Hawcx has secured $3 million in pre-seed funding to support its passwordless authentication platform. The funding round was led by Engineering Capital, with participation from Boldcap. This capital will aid Hawcx in accelerating product development and expanding its team and marketing initiatives.

Founded in 2023 by Riya Shanmugam, Selva Kumaraswamy, and Ravi Ramaraju, Hawcx addresses the vulnerabilities posed by passwords, which contribute to 86% of data breaches globally. The company provides a passwordless authentication solution that integrates easily for users.

“While the passwordless authentication market has largely focused on passkeys, the challenge lies in usability. Passwords will soon be a thing of the past,” said Riya Shanmugam, co-founder and CEO of Hawcx.

Ashmeet Sidana, founder of Engineering Capital, noted the company's unique approach to passwordless authentication as it relates to scalability and market insights.

Supporting quotes from industry professionals emphasized the urgent need for a balance between security and user experience in authentication solutions, particularly for organizations managing extensive customer bases.

The funding will enable Hawcx to further advance its product offering, aiming for widespread adoption across various sectors.