Web3 Security Firm Hypernative Secures USD 9 million in Seed Funding

Web3 Security Firm Hypernative Secures USD 9 million in Seed Funding

Hypernative, a cryptocurrency security startup that specializes in anti-hack protection, today announced that it has raised USD 9 million in seed funding to help Web3 companies prevent losses from cyberattacks.

IBI Tech Fund and boldstart ventures led the round with additional investments from Nexo, Blockdaemon, borderless, Alchemy and CMT Digital, among others. According to Hypernative Co-Founder and CEO Gal Sagie, the capital will support the firm’s goals of providing a “proactive security and risk prevention platform” for Web3 companies, decentralized finance protocols and other players in the crypto world.

According to the company, the platform has already detected more than 764,000 risks and triggered over 33,000 alerts across more than 14,000 monitored protocols. It uses its platform to allow its clients to respond in real time to potential threats that could affect their crypto assets before or even during a possible attack in order to mitigate any damage that might occur.

In September, the team launched its first product, Pre-Cog, a platform that monitors data sources on and off the network to predict threats before they occur. It has helped users save “tens of millions” of dollars since its launch, according to Sagie.

The company will also use the new funding to launch more offerings that rely on historical databases, machine learning models and heuristics to identify and generate alerts of potential incidents minutes or hours before they occur. The founders hope to allow market makers, asset managers and traders to make more proactive decisions about the security of their business and clients.

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