TECH MONEY

Austin mobile security firm Hypori raises millions for growth

The company worked with feds to create its secure platform, and is expanding from government to commercial customers. 

Posted January 17th, 2017

Austin-based Hypori Inc., which develops security software for mobile devices, has received $6.6 million in new investment.

Thirteen investors participated in the deal, according to filings with the U.S. Securities and Exchange Commission. The names of the backers were not disclosed.

Hypori was founded by tech industry veterans Justin Marston and Brian Vetter in 2011. They started the company after meeting with the National Security Agency, which was seeking a secure way for employees to access sensitive data through mobile devices.

They co-developed Hypori’s software with the U.S. Department of Defense, and in 2014 the company debuted its secure mobile platform.

The National Security Agency was the first user of the software, which protects data on any device an employee might use, ranging from iPhones and iPads to Android smartphones and PCs.

In 2015, Hypori raised $13.8 million from investors including Green Visor Capital of San Francisco, Austin real estate developer Dick Anderson.

The 40-person company used that money to expand into the corporate world and target industries including healthcare, finance and retail.

In May, Hypori announced it had received U.S. government approval as the first virtual mobile infrastructure vendor to meet requirements for classified mobility.

“There is a huge demand from high ranking public officials to use everyday mobile applications for classified work,” said Vetter, Hypori’s chief technology officer. “We are excited that Hypori’s software will enable the transformation of mobile technologies to support the critical needs of our nation’s senior leaders, as well as the many individuals and contractors who require access to classified information.”

In July, the Department of Homeland Security, Science and Technology Directorate, awarded Hypori a $750,000 small business innovation research contract. Under the contract, the company will further develop and license mobile security software to improve and strengthen security for government mobility systems.

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