Israeli healthcare cybersecurity provider CyberMDX announced today the completion of a $10 million Series A financing round led by Pitango Venture Capital, with participation from OurCrowd Qure.
CyberMDX delivers visibility and threat prevention for medical devices and clinical networks. The company has developed a non-intrusive solution that provides visibility and risk management, along with threat prevention and detection functionality for medical devices and other Internet of Medical Things (IoMT).
CyberMDX was founded by CEO Amir Magner, the former head of the Cyber Division at Israel's Prime Minister’s Office, and serial entrepreneur Moti Shniberg, cofounder of Face.com - which was acquired by Facebook - FDNA, and others.
Magner said, “The expedited growth of connected medical devices poses exceptional challenges for hospital network security. Connected devices have become an integral part of hospitals’ IT networks, yet they are not monitored and remain unprotected. Recent massive cyber-attacks such as OrangeWorm, NotPetya and WannaCry illustrate the challenges and high-risk exposure for hospitals. We passionately believe in the significance of our work, addressing the arising threat for healthcare provider networks. Cybersecurity for medical devices is an absolute necessity in order to enable hospitals to focus on their main and most important mission - treating and saving human lives.”
“CyberMDX sheds light on security blind spots in the healthcare management landscape that security professionals otherwise struggle with,” said Joey Johnson, Chief Information Security Officer at Premise Health and CyberMDX advisory board member. “The solution automatically lets users know what medical devices are on the network, what they're connecting to, and what the risk level is for each connected asset. This not only helps protect the hospital network, but also helps them save time and money with a friction-free solution.”
CyberMDX’s multidisciplinary team consists of veterans of Israeli Intelligence’s elite cyber units, medical device experts, and AI academic leaders with focus on the healthcare vertical.
“CyberMDX’s solution is well timed with the rapidly increasing threats hospitals face today. Existing security and IoT solutions are not enough to protect the dynamic healthcare cyber threat landscape,” said Rami Kalish, Pitango managing general partner and cofounder. “We believe the market will continue to see a shift towards specialized cybersecurity solutions that address hospitals’ unique needs. CyberMDX delivers a powerful solution for the industry, and we are excited to collaborate with and support them as they continue to grow the company.”
Published by Globes [online], Israel business news - www.globes-online.com - on July 17, 2018
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