Hypernative, a security firm specializing in web3 technology, has raised $40 million in a Series B funding round co-led by Ten Eleven and Ballistic Ventures. Additional participants in the round included StepStone Group, Boldstart Ventures, Quantstamp, and IBI Tech Fund. The company plans to use the new capital to expand its team and enhance its AI-powered transaction monitoring and security services, which include fraud prevention and wallet-level transaction protection.
Hypernative Raises $40 Million Series B
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Hypernative Raises $40 Million Series B
The firm deploys AI-powered detectors, transaction simulators, and comprehensive analysis of on-chain and off-chain data to catch and stop threats as they happen. Hypernative's security infrastructure currently shields more than 200 web3 projects, protecting assets worth over $100 billion. The company's systems flagged over $2.2 billion in losses from hacks, exploits, phishing, and fraud over the past year — a 22 percent jump from the year before. The February hack that drained $41.4 billion from Bybit demonstrates just how severe the security problems in web3 remain.
Security Challenges and Industry Context
Hypernative's CEO and co-founder, Gal Sagie, said web3 has reached an inflection point where regulations are becoming clearer and institutional money is flowing in through stablecoins and tokenized assets. But security is still the biggest roadblock to mainstream adoption. Sagie explained that Hypernative's goal is to fix this problem by building preventive security tools that create trust at the infrastructure level for developers, users, and institutions.
Hypernative Raises $40 Million Series B
Company Background and Growth
Hypernative went public in January 2023 after closing a $9 million seed round led by Boldstart Ventures, with backing from Blockdaemon, Alchemy, Borderless, CMT Digital, and Nexo. The company raised another $16 million in Series A funding in September 2023, supported by Quantstamp, Boldstart Ventures, IBI Tech Fund, CMT Digital, Bloccelerate, and Borderless Capital. This latest $40 million Series B round cements Hypernative's standing in the web3 security sector and signals growing investor belief in solutions designed to protect blockchain ecosystems.
Outlook for Web3 Security
Security remains the make-or-break issue for web3 as the technology scales. Hypernative's AI-driven threat detection and fraud prevention tools target some of the most persistent vulnerabilities in the space. The company's ability to pull in $40 million highlights how critical security infrastructure has become for enabling wider adoption of web3 applications, gaming, and digital assets.
