Biometric security company HYPR Corp. has closed a $3 million funding round to accelerate the development and adoption of its encryption product.
The HYPR solution integrates fingerprint, voice, face, eye and palm recognition into mobile and desktop banking and shopping. The aim of the product is to remove the need for customers to manually input PIN numbers or passwords. The New York-based startup will use the funds to expand its security engineering talent base and its office space in Manhattan, it said in a Tuesday news release.
Venture capital firms RTP Ventures and Boldstart Ventures, based in New York, and Mesh Ventures, from Taiwan, participated in the round.
“There will come a day when we look back on the history of computing and cringe at how we used to treat our most guarded assets,” Edward Chyau, Managing Partner of Mesh Ventures, said in the release. “HYPR will help us leave behind our alphanumeric past and embrace the biometric future: a world where our online identity is simply our self.”