Cynerio Secures $7 Million Seed Round Funding to Drive US Market Development
New York, January 9, 2019 – Cynerio today announced the completion of its $7 million funding round to fuel growth in North America for its 100% healthcare focused cyber security platform. Investors include global VCs, Accelmed, a leading investment firm focused on value creation for medical device companies and technologies, RDC (a joint venture between Elron and Rafael), which invests in exceptional medical device and cybersecurity companies and MTIP, a leading venture capital firm who is an expert in digital health.
“Cynerio is committed to protecting the future of healthcare by focusing on its weakest link – the connected medical devices and Internet of Medical Things (IoMT). We are delivering a tailor-made, healthcare driven solution for providers to ensure patient safety and data protection while maintaining operational continuity,” explained Leon Lerman, Cynerio CEO.
Cynerio was founded by cybersecurity experts Leon Lerman and Daniel Brodie, CTO, to deliver a cybersecurity solution that is 100% designed for healthcare providers, based on the industry’s first technology that thoroughly analyzes the medical workflows in the IoMT ecosystem, to automatically discover all the entities on the network, provide an ongoing healthcare specific risk analysis, accurately detect anomalies and stop threats to prevent service disruption, data theft and compliance violations.
Advisers include Dr. John Halamka, Harvard’s International Healthcare Innovation Professor & Chief Information Officer at Beth Israel Deaconess Medical Center, and Amichai Shulman, co-founder and former CTO of Imperva.
“The security of connected devices is an issue that continues to plague the hospital ecosystem. I am delighted to work with Cynerio, on what I see to be one of the biggest cybersecurity challenges we currently face,“ added Dr. John Halamka.
“The US healthcare market is woefully underserved by the security industry. Hospitals deserve cybersecurity solutions tailored to their needs, and this is where Cynerio can make a big difference with their technology that is not just identifying the shape of traffic between devices, but also the medical context of information. I think their technology is very innovative and effective which is why I have become an adviser to Cynerio,” said Amichai Shulman, Cynerio adviser.
Rambam Hospital and Tel Aviv Medical Center (Ichilov) are two of the world’s top healthcare organizations using Cynerio’s technology to protect its sensitive data. The company is now focused on US market development. Hospitals require a security solution that will protect their systems without being intrusive or aggressive. Cynerio delivers complete visibility into a healthcare organization’s IoMT ecosystem, protecting it from cyber threats and helping the organization meet HIPAA regulatory requirements.
Cynerio’s machine learning based technology incorporates four key capabilities:
- Visibility – Automatic and ongoing discovery & classification of all medical devices on the network
- Risk analysis – mapping the risk and vulnerabilities associated to the devices, enabling the healthcare organization to take proactive measures to lower the risk
- Detection – real time monitoring and anomaly detection with medical context consideration
- Protection – stopping malicious communications, without disrupting device operation to ensure patient safety and data protection