Hypernative raises $16M to enhance Web3 security with AI solutions

Hypernative, a Web3 security company, has successfully raised $16 million in a Series A funding round led by Quantstamp.

Other notable investors such as Bloccelerate VC, Boldstart Ventures, Borderless Capital, and CMT Digital also participated in the round.

This latest investment brings Hypernative’s total funding to $27 million.

The company plans to use this new capital to enhance its artificial intelligence (AI)-driven security solutions designed for the Web3 ecosystem, solidifying its role as a key player in blockchain security.

Since launching its real-time monitoring platform in September 2022, Hypernative has focused on protecting digital assets from emerging threats in decentralised finance (DeFi) and Web3.

The platform is built to instantly detect and respond to potential vulnerabilities, safeguarding more than 100 Web3 projects, including Balancer (CRYPTO:BAL), Chainlink (CRYPTO:LINK), and Uniswap (CRYPTO:UNI).

The company integrates smart contract audits and bug bounty programs with a more active, AI-powered security component to mitigate risks in real-time.

Gal Sagie, CEO and co-founder of Hypernative, emphasised the importance of their mission to enhance Web3 security, stating, “To make Web3 hacks a thing of the past, we need to combine smart contract audits and bug bounties with an active security component.”

He noted that some of the most influential projects in the blockchain industry have already adopted Hypernative’s solutions to protect their platforms.

With the new funding, Hypernative aims to expand its security solutions and broaden its reach into new industries beyond its current focus.

The company plans to strengthen its global footprint and improve its AI-driven threat detection features, which have already caught 99.5% of attacks over the past year with minimal false positives.

The increasing need for robust security measures in the Web3 space is driven by the rapid growth and adoption of blockchain technology.

Hypernative’s commitment to raising the bar for security is evident in its efforts to develop advanced tools that address the evolving landscape of cybersecurity threats in decentralised environments.

By leveraging AI, Hypernative seeks to create a safer ecosystem where digital assets can thrive without the constant risk of exploitation.