Israeli Cyber Firm Focused On Medical Sector Raises $7M For US Market Expansion

Cynerio, an Israeli-founded cybersecurity firm focused on the medical device industry and the Internet of Medical Things (IoMT), announced that it raised $7 million in a seed funding round led by Accelmed, a leading Israeli investment firm focused on medical device companies and technologies, RDC (a joint venture between Elron and Rafael), which also invests in medical device and cybersecurity companies, and MTIP, a Swiss VC firm specializing in digital health.

Cynerio was founded in 2017 by cybersecurity experts Leon Lerman, CEO, and Daniel Brodie, CTO, “to deliver a cybersecurity solution that is 100 percent designed for healthcare providers.”

“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,” Lerman explained in a company statement.

In Israel, Tel Aviv Sourasky Medical Center and Rambam Healthcare Campus use Cynerio’s tech and services to protect their medical device ecosystem from data breaches and other cyber threats.

“We are working with most of the hospitals in Israel, and leading US health systems, to secure their weakest link – the connected medical device which can be used as a hidden gateway by hackers to the patient data,” Lerman told NoCamels last July.

“Medical data is very rich with PII (personal identifiable information),” he said at the time. “Unlike credit cards, medical data cannot be canceled and therefore have a longer lifetime for hackers to use the data for identity theft and medical fraud.”

“Protecting medical devices is important but it’s just part of the challenge. There is an entire ecosystem supporting these devices which includes gateways such as medical imaging picture archiving and communication systems, nurses stations, clinical servers, DICOM printers and middleware, that is also vulnerable and needs protection,” he added.

Cynerio says it is now focused on US market development.