Welcoming HIDEEZ to the Fulgur portfolio. Founded in 2015 in Kyiv by Oleg Naumenko, Andriy Konkov and Denys Zaliznyak, HIDEEZ builds FIDO2-certified hardware security keys and a full passwordless identity and access management stack for enterprises and public-sector organisations. Its keys combine physical possession, biometrics and cryptographic challenge-response to eliminate the password as an attack surface.

Passwords are responsible for the overwhelming majority of breaches, and the workforce identity layer is one of the highest-leverage places to fix that. HIDEEZ replaces shared secrets with hardware-anchored credentials that cannot be phished, replayed or harvested by malware. For us, that is foundational infrastructure: a more secure internet, where strong cryptographic identity is the default, is also the internet where Bitcoin and self-custody flourish.

The market timing is sharp. Regulators across the EU, US and UK are pushing organisations off SMS one-time codes and onto FIDO2. Cyber-insurance carriers are repricing premiums around phishing-resistant MFA. HIDEEZ already serves banks, critical-infrastructure operators and government agencies, with deployments hardened by the operational realities of defending Ukrainian institutions under sustained attack. That is a level of battle-testing few competitors can claim.

We backed HIDEEZ because the team has been working on this problem long before passwordless became a buzzword, and because their roadmap extends naturally toward Bitcoin-relevant use cases such as hardware-backed key management and signing. Welcome to the Fulgur portfolio. We are excited to support the team as it scales passwordless identity to a much larger global customer base.