Insider Brief
- Hypernative raised $16M in a Series A round, led by Quantstamp, to enhance its AI-powered Web3 security solutions and prevent crypto hacks.
- Launched in 2022, Hypernative’s platform detects 99.5% of hacks with a low false positive rate, helping protect over 100 Web3 projects and saving $100M in customer funds.
- The funding will be used to expand globally, grow its team, and advance its security solutions to make real-time monitoring a standard practice in Web3 security.
PRESS RELEASE — Hypernative, the best way to secure everything you build, run and own in Web3, raised a $16M Series A round to accelerate adoption of its industry-leading suite of AI-powered security products and make crypto safer for all participants.
Investors in the round led by Quantstamp include Bloccelerate VC, boldstart ventures, Borderless Capital, CMT Digital, IBI Tech Fund, Knollwood Investment Advisory, Re7 Capital, and some notable angels. This brings the total raised by Hypernative to $27M.
“Almost everyday our system detects exploits that result in millions of dollars in losses and incalculable brand damage, most of which is entirely preventable,” said Gal Sagie, co-founder and CEO of Hypernative. “To make Web3 hacks a thing of the past, we need to combine smart contract audits and bug bounties with an active security component. We already have some of the biggest and most influential projects leading the way by choosing Hypernative.”
When the Hypernative platform went live in September 2022, it was the first real-time monitoring, risk detection, and automated response solution that could identify the overwhelming majority of attacks with high accuracy and give its users precious minutes to respond before exploits can do damage. Now, more than 100 Web3 projects rely on Hypernative for their security, a list that includes Balancer, Blockdaemon, Chainalysis, Chainlink, Circle, Consensys, Ethena, Etherfi, Fidelity, Galaxy, Linea, Quantstamp, Solana, Starknet, and Uniswap.
“To make Web3 hacks a thing of the past, we need to combine smart contract audits and bug bounties with an active security component. We already have some of the biggest and most influential projects leading the way by choosing Hypernative.”
Gal Sagie
CEO and co-founder@ Hypernative
Over the past year, Hypernative Platform tripled its network coverage to more than 40 chains and added 100’s of new detectors to identify the industry’s largest set of risks over a number of categories. The team has also launched Hypernative Security Oracle, a precision inline solution for keeping attackers out without degrading the experience for the rest of the users, and Hypernative Screener, which screens addresses and correctly identifies risks prior to authorizing transactions.
The combination of detection volume, accuracy and advance warning time is what makes Hypernative the leading active security solution in Web3. Hypernative Platform detected 99.5% of hacks last year with less than 0.001% false positive rate. In 99% of the cases, the attacks were detected more than 2 minutes before the first transaction. The system helped save more than $100M worth of customer funds to date.
The Hypernative team deeply believes in the transformative power of blockchain technology, but also recognizes that its full potential will not be realized without dramatic improvements in security. The latest financing round marks an important milestone in our mission to make Web3 safe for everyone.
The team will use the additional capital to expand into new security stack verticals and to build a Web3 security network. The financing will also allow Hypernative to expand globally, grow its team and establish real-time monitoring and response as a standard security practice.
“Hypernative is building solutions that fill a critical gap in the security space today. We always say audits are not enough on their own to keep protocols secure, so solutions like Hypernative’s threat detection system provide a necessary extra layer of protection that has already saved millions of dollars worth of digital assets,” said Richard Ma, Founder and CEO of Quantstamp. “We’re thrilled to support their continued growth and success in revolutionizing the way we approach blockchain security.”
Smart contracts call for smarter security. Hypernative monitors both onchain and offchain data sources in real time to stop hacks with the fastest and most-reliable threat detection and response in Web3. The Hypernative Platform accurately identifies over 200 risk types from smart contract hacks and bridge security incidents to frontend compromises, market manipulations and private key theft.
Reach out for a demo of Hypernative’s platform, tune into Hypernative’s blog and our social channels to keep up with the latest on cybersecurity in Web3.
Secure everything you build, run and own in Web3 with Hypernative.
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