Hyprfire raises $2.25M from local investors

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Hyprfire
Hyprfire's powerAI
  • Cyber defence startups rasies $2.25M from prominent WA business people
  • Has just launched its second product based off its proprietary powerAI software

WA-based Cyber Defence startup Hyprfire has managed to close a $2.25M round from some prominent local business people.

The company attracted support from both Azure Capital and Ashanti Capital as advisors and prominent local investors Craig Burton, the Rae Group, Bill Beament and Kinetic IT Chairman, David McCleery.

David Buckingham – previously CEO of Navitas and iiNet – has joined as Chairman.

HyprFire is a Curtin University spin out, having launched its distributed denial of service (DDoS) product last year, based on its revolutionary Power AI platform, which uses powerful statistical techniques to distinguish malicious network traffic from normal traffic.

“HyprFire’s Power AI platform is the new and better way of doing network security monitoring, and makes previous generation solutions look old, inaccurate and expensive,” said HyprFire’s Managing Director, Tim Jones.

Tim Jones

HyprFire’s Firebug – its new network monitoring solution – could have helped defend against the SolarWinds attack, the largest US government cyber breach in history, and similar “supply chain” attacks.

Australian businesses and government agencies are increasingly under threat from sophisticated state-based and criminal cyber attackers, resulting in tens of millions of dollars in losses annually.

HyprFire has successfully completed extensive commercial trials of Firebug and is working with Managed Security Service Provider (“MSSP”) partners and enterprise customers to roll it out it in their networks.

“Firebug allows companies to identify bad actors trying to breach their network and to hunt for bad actors already in the network ‘casing the joint’ to plan an attack, such as ransomware or theft of assets,” said HyprFire CTO and inventor, Stefan Prandl.

Stefan Prandl

“The new design of Firebug makes it more affordable, lighter and faster to deploy than previous generation intrusion detection solutions.”

“We’ve developed Firebug for Chief Information Security Officers (“CISOs”) and network security professionals to help solve their network monitoring problems. We really believe that Firebug can help CISOs stop these attackers causing damage to governments and businesses,” Stefan said.

Curtin University Director of Commercialisation, Mr Rohan McDougall, said he was pleased with HyprFire’s progress and Curtin’s role in its development.

“The Curtin team is proud of the University’s part in bringing HyprFire to market. Curtin has a strong focus on research being closely aligned to industry need and effective cyber security solutions are critical to governments and businesses in the current commercial environment,” Mr McDougall said.

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