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With its portfolio of companies worth upwards of a combined $600 Billion, Y Combinator (YC) is the most successful startup accelerator in existence. Based out of Silicon Valley, YC has incubated some of the world’s most successful and influential companies, such as Airbnb, Coinbase, Dropbox, DoorDash, Reddit, Stripe, and Twitch, to name a few. Twice a year, over 15,000 companies apply to join the program, around a thousand are asked to interview, and a fraction of those are accepted, amounting to a roughly 2% overall acceptance rate.
Bunkyr is very excited to announce that we are now backed by Y Combinator as part of its Winter 2022 (W22) batch. We are thrilled to join this world-class community of like-minded and fast-growing startups.
If a user loses their password to an end-to-end encrypted application, unreliable recovery methods like seed phrases and backup codes are the only defense against permanently losing access to their data. Currently, this negative user experience (and the risk of data loss that comes with it) is a necessary cost for companies who wish to keep their users’ data truly private, secure, and safe from the threat of large-scale data breaches. For most companies, this tradeoff is too extreme, leading them to opt for less secure systems which are far more susceptible to cyberattack.
Bunkyr is a hardware-secured key generation service for user recovery of end-to-end encrypted data, for applications like cryptocurrency wallets and encrypted cloud storage. We introduce a new security primitive that allows users to regain access to their encrypted data with something as simple as a social sign-in (such as Google Sign-In). Bunkyr’s lightweight API takes care of the underlying complexity and security for both developers and end users, without Bunkyr ever having access to the users’ sensitive data or private keys.
With just a few lines of code, companies can enable their users to securely and easily recover their private encrypted data. What’s more, we’re completely transparent to the end user and extremely fast - users will never even know Bunkyr exists. For the user, this means protection of their accounts and assets without needing to memorize or store unwieldy seed phrases or paper codes. For our customers, key recovery with Bunkyr ensures they can enjoy the security guarantees of end-to-end encryption without the traditional user-experience burdens.
Alongside Y Combinator’s investment, Bunkyr receives valuable startup mentorship during the batch and further acceleration of our technological and business development. In addition to expanding upon our core features, our focus also remains on providing close integration support for our early adopter companies, following our recent early access release. Investors can find us at the end of March when we attend YC’s W22 Demo Day.
For more information about integrating with Bunkyr, consider reaching out directly to our engineering team.