Latest news with #Hypernative
Axios
2 days ago
- Business
- Axios
Exclusive: Crypto security startup Hypernative raises $40M
Hypernative, a provider of real-time threat prevention for crypto companies, raised $40 million in Series B funding, its founders tell Axios exclusively. Why it matters: Security remains a major barrier to mass adoption of crypto, which is plagued by increasingly sophisticated hacks and exploits. How it works: Hypernative's technology monitors blockchain transactions to detect and respond to potential threats before they happen. "We know how to classify that preparation and then essentially front-run their attacks before they're actually triggering it," Hypernative CTO Dan Caspi explains. Its platform identifies patterns of on-chain preparations that attackers typically make before launching an exploit. Using AI and machine learning models, it tracks and analyzes on-chain and off-chain data sources, simulating transaction outcomes to protect users and assets in real time. State of play: The crypto security market is becoming increasingly competitive, with numerous startups offering solutions to prevent hacks, fraud and exploits. By the numbers: Israel-based Hypernative serves more than 200 customers, protecting assets totaling over $100 billion. In 2024, the platform detected over $2.2 billion in potential losses from hacks and exploits, a 22% increase from the previous year, the company says. "We've already saved huge amounts of money in real time for customers and non-customers," Hypernative CEO Gal Sagie says. Case in point:"Just yesterday, there was a protocol that was not a customer of ours, and we managed to reach out to them and saved around $10 million," he adds. Zoom out: Traditional financial institutions are increasingly becoming interested in blockchain technology, driven by regulatory clarity and institutional demand for digital assets. "With the new regulation and the new administration, we see a lot of demand from more traditional financial institutions," Sagie says. Zoom in: Ten Eleven Ventures and Ballistic Ventures led the round, which included participation from StepStone Group, Boldstart Ventures and the IBI Tech Fund.
Business Wire
2 days ago
- Business
- Business Wire
Hypernative Raises $40M Series B to Remove Security Barriers to Web3 Mass Adoption
TEL AVIV, Israel--(BUSINESS WIRE)--Hypernative, the leading provider of real-time threat prevention in Web3, today announced a $40 million Series B funding round co-led by Ten Eleven Ventures and Ballistic Ventures, with participation from StepStone Group, and existing investors boldstart ventures and IBI Tech Fund. The funds will support the expansion of the company's offering to include fraud prevention and wallet-level transaction protection—key steps toward building an end-to-end security platform for Web3. They will also fuel improvements to AI models through wider investment into high-quality training data, and support team growth to provide expert-driven risk analysis and customer support. In 2024, Hypernative detected over $2.2 billion of losses from hacks, exploits, phishing, and fraud—a 22% jump from the previous year. Following the $1.4 billion Bybit hack in February, the industry is on track for another record-breaking year of security failures. Hypernative uses AI-powered detection to respond to threats in real time, helping secure transactions and build trust across the Web3 ecosystem. The platform, used by over 200 customers to help protect more than $100 billion in assets, continues to evolve through ongoing integrations. With recent expansion into wallets, exchanges, and payment providers, Hypernative is contributing to a more unified approach to Web3 security. Gal Sagie, Co-founder and CEO of Hypernative, said: 'Web3 is at an inflection point: clear regulation is finally emerging, and institutional adoption is accelerating led by stablecoins and tokenized assets. But security remains the biggest blocker to mass adoption—and Hypernative is on a mission to close that gap.' The funding round follows a number of exciting milestones for the company: Over the past year, Hypernative has more than doubled its network coverage to 60+ chains, including Solana and THORChain, enhancing security with hundreds of detectors to identify the industry's largest set of risks across not just security, but also financial, compliance and governance. The launch of Guardian, a real-time transaction security solution that protects against blind signing by simulating the outcome of every transaction before it is approved. Additionally, the team launched new ways of integrating Hypernative threat intelligence directly into a project's contracts or prior to block inclusion with sequencer integrations, frontend apps, liquidity pools, staking, and more. 'As leading cybersecurity investors, Ten Eleven recognizes how critical a robust security layer is to furthering adoption of Web3 technologies. Hypernative's cohesive approach to real-time threat detection and response positions it as a foundational player in the future of decentralized ecosystems. That's why we are proud to lead the Series B round and look forward to supporting the company through its next stage of growth,' said Mark Hatfield, Co-founder and General Partner of Ten Eleven Ventures. "Hypernative is tackling the single greatest barrier to Web3's mainstream future: trust. As attacks grow more sophisticated, the need for proactive, real-time security has never been more urgent," said Barmak Meftah, Co-founder and General Partner, Ballistic Ventures. "What Gal and the Hypernative team have built is not just innovative, it's foundational to the next era of the internet. We're proud to back them as they scale their platform, expand their AI capabilities, and secure the path to mass adoption." Hypernative's customer base ranges from chains, wallets, and protocols to exchanges, asset managers, and stablecoin issuers. More than 200 Web3 projects already rely on Hypernative for their security, with Aptos, Ethereum, Morpho, Movement, Sonic, Star Atlas, Wintermute, and ZKsync joining the list earlier this year. To learn more about how Hypernative stops Web3 threats before they do any damage, visit: About Hypernative Hypernative is a real-time monitoring, risk detection and automated response solution that identifies threats with high accuracy and gives customers precious minutes to respond before exploits can do damage. The platform tracks both onchain and offchain data sources and uses battle-tested, sophisticated machine learning models, heuristics, simulations, and graph-based detections to identify over 300 risk types, from smart contract hacks and bridge security incidents to frontend compromises, market manipulations and private key theft. For more information, visit About Ten Eleven Ventures Ten Eleven Ventures is the original cybersecurity-focused, global and stage-agnostic investment firm. The firm finds, invests in and helps grow top cybersecurity companies addressing critical digital security needs, tapping its team, network and experience to help build successful businesses. Since its founding, Ten Eleven Ventures has raised over $US1 billion and made over 60 cybersecurity investments across stages worldwide, including KnowBe4, Darktrace, Axis Security, Twistlock, Verodin, Cylance and Ping Identity. For more information, please visit About Ballistic Ventures Ballistic Ventures is a venture capital firm solely dedicated to early-stage cybersecurity and cyber-related companies. The partners have spent their entire careers defending against every cyber threat conceivable. Members of the firm have founded, operated, and funded over 100 successful cybersecurity firms – including Abnormal Security, AlienVault, ArcSight, Fortify, Mandiant, and Shape Security – led over 10,000 security professionals globally, and have 40+ years of experience in venture capital. Our experience provides entrepreneurs impactful support from people focused on the same mission. Our networks and relationships open doors for our founders. Learn more at
