Hypori has closed its initial $10.5 million Series B investment deal, which was led by Hale Capital Partners and included supplementary funds from Series A investor GreatPoint Ventures and David Petreaus, among others.
These funds are part of a total fundraising round with commitments to invest up to $18 million and represent the expansion and growing value of Hypori and its Halo bring-your-own-device product within the national security and user privacy areas, the Reston, Virginia-based enterprise announced on Tuesday.
Jared Shepard, president and CEO of Hypori, emphasized the importance of the deal in growing the company’s work to improve secure access and interaction with data from the edge.
“Hypori is changing the way the industry thinks about cybersecurity and operating at the speed of cloud to achieve mission success,” he said.
The Halo product is a virtualized Android OS designed to meet the security needs of companies following BYOD policies, especially those that employ hybrid and remote staff who rely on their personal devices to work. It functions individually as a private, virtual workspace on any mobile device and minimizes data at rest or in transit outside of an organization to further secure client data.
Hypori Halo is intended to secure the digital workspace of companies that currently hold these policies, which can decrease hardware and software costs but may produce security risks for an organization’s network and data.
Applying the concept of zero trust to mobile security, Halo shifts the security target from the edge device to a digital workspace in a secure and controlled cloud or data center and allows clients to isolate and safeguard privacy, personal data and organizational data.
The product also allows clients to remove data at rest requirements from the physical device, reduce the risk of data loss and prevent malware from entering an organization from an end-user device.
The product is already being used within the Department of Defense and the defense industrial base. As it becomes more widely adopted within the federal government, the investment funds will enable rapid scaling to support the U.S. Army’s phase 3 BYOD rollout, which is currently providing Halo to over 20,000 users within the Army, Army Reserve and Army National Guard.
Martin Hale, managing partner at Hale Capital Partners, will join Hypori’s board of directors as part of the financing.
“With no data at rest and no data in transit, their BYOD solution appears to us to be a game changer. We look forward to supporting Hypori as it scales and delivers unmatched security and ease of use to its customers,” said Hale.
Also joining the board is Rich Sawchak, CEO of Systems Planning and Analysis and former Hypori CFO.