HYPR offers its customers a solution to this threat by providing passwordless authentication. By eliminating passwords, organizations decrease the risk of a cyber-attack, increase positive user experience, and lower operational costs. HYPR's platform reduces account takeover fraud by almost 99%, leading to a ROI of over 300% due to the prevention of expensive leaks and hacks.

Cybersecurity is projected to be a $300 billion industry by 2030. HYPR positions itself strongly against competitors in the market, such as Duo Security and LastPass, by using a decentralized approach. This results in hackers being forced to go device to device to device, rather than attacking millions of accounts in one swoop.

HYPR has raised a significant amount of investment, most recently in a 2022 Series C round. This infusion of cash will help to expand the company's go to market strategy and accelerate its research and development. Having already established itself as a leader in passwordless authentication, with 2 of the US's largest banks among its customers and over 1 billion individual users, it is well poised to capture a growing share of the enterprise cybersecurity market.