In a recent Series A round of funding, CyberMDx, a New York-based healthcare cybersecurity startup, raised $10 million to expand medical cybersecurity to hospitals globally. The funding round was led by Pitango Venture Capital, with the participation of equity crowdfunding company OurCrowd Qure.
Founded by Amir Magner in 2016, CyberMDx offers cybersecurity preventive measures for medical devices and other Internet of Medical Things (IoMT). The company has deployed cybersecurity professionals from Israeli Intelligence’s elite cyber units and Artificial Intelligence (AI) academic leaders specialized in the healthcare industry.
“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,” said Amir Magner, CEO at CyberMDX. “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.”
Speaking on the new investment move, Rami Kalish, Managing General Partner and Co-Founder at Pitango, said, “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. 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.”