Hypernative has secured $40 million in Series B funding, co-led by Ten Eleven Ventures and Ballistic Ventures, to bolster Web3 security infrastructure. The investment aims to enhance their AI capabilities for real-time threat prevention in the crypto landscape, protecting over $100 billion in assets. With over 200 customers, Hypernative’s proactive security services address growing challenges, underscored by a 22% surge in potential losses in 2024. Discover how this funding will accelerate their growth and strategic initiatives.
In an impressive leap forward, Hypernative has secured $40 million in Series B funding, co-led by Ten Eleven Ventures and Ballistic Ventures, with participation from StepStone Group, boldstart ventures, and IBI Tech Fund. This substantial financial injection is set to accelerate the company’s mission to enhance security within the Web3 ecosystem. By focusing on real-time threat prevention, Hypernative aims to eliminate security barriers that hinder the mass adoption of decentralized technologies. The funding implications are significant for Hypernative, as it initiates expanding its AI capabilities and growing its team to meet the rising demand for robust security solutions. In a landscape where security challenges are pervasive, particularly due to high-profile hacks such as the $1.4 billion Bybit incident, Hypernative’s approach is both timely and essential. By leveraging this funding, the Israel-based startup plans to refine its AI-driven platforms, ensuring that they can continue to protect over $100 billion in assets effectively. The company’s platform currently protects over $100 billion in assets, illustrating its vast reach and importance in the Web3 ecosystem.
Hypernative’s core service of real-time threat prevention is designed to front-run exploits before they materialize, safeguarding users and their assets. The platform’s unified, end-to-end security caters to Web3 protocols, wallets, exchanges, and payment providers, reinforcing trust and security at scale for decentralized finance. The company’s AI-powered detection systems monitor blockchainA decentralized ledger that records transactions across a ne transactions in real time, analyzing both on-chain and off-chain data to simulate potential threat scenarios. This proactive stance in identifying threats before execution is what sets Hypernative apart in the rapidly growing and competitive crypto security market. The importance of security in crypto is underscored by the increasing sophistication of hacks and exploits that the sector faces.
With over 200 customers across various Web3 verticals, Hypernative is well-positioned to address the industry’s pressing security challenges. The company has already detected over $2.2 billion in potential losses in 2024 alone, illustrating its capability to save substantial sums for both customers and non-customers. The 22% increase in losses compared to the previous year underscores the need for robust security measures, which Hypernative is primed to deliver. By enhancing customer trust through automated security measures, Hypernative not only mitigates risks but also fosters a sense of belonging within the crypto community, which is increasingly vigilant about security threats.
The recent funding will also support Hypernative’s future plans to enhance its AI models with high-quality training data and expand its expert teams in risk analysis and customer support. This strategic allocation aims to improve product development and integrate new features that align with market needs. As the company scales its operations, it continues to offer extensive coverage across wallets, exchanges, and payment providers, identifying patterns of on-chain preparations before attacks are launched.
As the Web3 landscape evolves, Hypernative’s commitment to strengthening security infrastructure appears unwavering. By addressing the security challenges that impede crypto adoption, the company not only contributes to a safer digital economy but also reinforces its position as a trusted partner in the journey towards a more secure and inclusive decentralized financial future.
The Series B funding marks a pivotal step in realizing this vision, promising to enhance the security and trust that are vital for the growth of decentralized technologies.
