Israeli Startup CyberMDX Raises $20M To Secure Medical, IoT Devices

Israeli healthcare cybersecurity provider CyberMDX has secured $20 million in funding, the company announced on Monday. The round 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.

Founded in 2016, CyberMDX delivers visibility and threat prevention for medical devices, IoT, and clinical networks. The company was founded by Amir Magner, the former head of the Cyber Division at the Israeli Prime Minister’s office, and serial entrepreneur Moti Shniberg, the co-founder of facial recognition company Face.com famously acquired by Facebook for a reported $100 million in 2012. The team at CyberMDX consists of veterans from elite cyber units, medical device experts, and AI academic leaders.

CyberMDX said it will use the funding for go-to-market activities and the expansion of its technology platform and research capabilities to assist hospital IT and Biomed teams in securing all network-connected devices.

“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.”

“CyberMDX has been leading the market, helping healthcare organizations identify, optimize and secure their critical assets,” said Magner in a company statement.

“Nowadays, in light of COVID-19 and unprecedented events, we see it as part of our mission to support the healthcare community in its challenging time. We are incredibly excited to be backed by strong investors with a healthy mixture of VC and strategic commercial syndicate that will enable faster execution and growth of our company’s mission,” he added.

CyberMDX has raised a total of $30 million in capital.