Funding will drive business expansion efforts and the development of CyberMDX’s platform for hospitals' operational security and efficiency
New York, NY, April 7, 2020 — CyberMDX today announced that it has it secured $20 million in funding, bringing its accumulated fundraising to a total of $30 million. The current investment was led by Sham (Relyens group), Europe’s largest insurance and risk management provider for healthcare, with participation from existing investors Pitango Venture Capital and Qure Ventures.
Building off of strong 2019 growth, CyberMDX will use the funding to support its plans for geographic expansion and market entrenchment. The investment will also enable the company to further develop its technology platform and research capabilities.
“We are very excited to be leading this funding round,” said Relyens group CEO, Dominique Godet. “CyberMDX is a leader in the healthcare cybersecurity arena and their offering is well timed with the rapidly increasing demand for solutions that help ensure hospitals continue running smoothly. We look forward to collaborating with and supporting them as they accelerate into their next wave of expansion.”
Both IT and Biomed teams are facing extreme pressure and increased importance as a result of the situation caused by COVID-19. CyberMDX’s solution is designed to automate and simplify the way devices are identified, protected, and utilized — helping hospital staff achieve more with less resources.
"CyberMDX has been leading the market, helping healthcare organizations identify, optimize and secure their critical assets,” said Amir Magner, CEO and co-founder at CyberMDX. “In light of COVID-19 and the unprecedented international impact, we see it as part of our mission to support the healthcare community in these challenging time. We are incredibly excited to be backed by strong investors, with backgrounds in both capital and commercial markets. For us, this is key to quickly executing of our company's mission and growing of our ambition.”
CyberMDX will continue to build upon its strategic partnership with Sham (Relyens group) to tap into its deep healthcare industry expertise and customer base to provide hospitals a first-of-its kind, end-to-end risk management and operational efficiency solution.
A pioneer in healthcare cyber intelligence, CyberMDX delivers endpoint visibility, network threat prevention, and operational analytics for medical, IT, OT, and IoT devices. Deployed worldwide and in hundreds of facilities, CyberMDX’s best-in-class solution was built from the ground up for healthcare delivery organizations.
Relyens is the leading European mutual group providing insurance and risk management services to healthcare professionals and local authorities that deliver public interest services. With nearly 1,100 employees, more than 30,000 customers and members, and 900,000 people covered in four countries (France, Spain, Italy and Germany), in 2018 Relyens collected €847 million in premiums and generated revenue of €456 million. Firmly established in its clients’ environments through its Sham (healthcare and medical-social sectors) and Sofaxis (local authorities) brands, the Group develops tailored comprehensive solutions combining insurance and risk management capabilities.
www.relyens.eu / Twitter : @Relyens / LinkedIn : Relyens
Pitango has been investing in technology ventures since 1993 and now has more than $2 billion under management. Pitango invests in Israeli tech and health care companies, in various fields and all stages. Pitango Venture Capital has invested in over 200 companies, many of which have become public or were acquired by strategic players.
Qure is Israel's first digital health focused fund. Qure focuses on deep-tech solutions that have a significant impact on quality of patient care, patient empowerment, information transparency and cost reduction. Qure investments include companies that have developed disruptive solutions using machine vision, neuro-tech, digital therapeutics, artificial intelligence, cybersecurity and big-data analytics. Qure has established strategic partnerships with key stakeholders in consumer, provider, payer, and pharma domains – providing fast track access to market and clinical validation opportunities for its portfolio companies.
Jon Rabinowitz, CyberMDX VP Marketing