Cylera, a healthcare IoT (HIoT) cybersecurity company, secured $10 million in Series A funding, led by Concord Health Partners and Maverick Ventures.
Including the latest funding round, Cylera has raised $17 million to date from Concord Health Partners, Maverick Ventures, Contour Venture Partners, Two Sigma Ventures, Dreamit Ventures, Great Oaks Venture Capital, Red Bear Angels, and Samsung NEXT.
With the new funding, Cylera plans to expand its footprint into new global markets through strategic channel partners and extend the technology into new critical verticals. Additionally, the company intends to use the funds to double the headcount across research and development, channel support, customer success, sales, and marketing over the next six months.
Cylera offers a cybersecurity platform for asset management, risk analysis, and threat detection. The platform is purpose-built for complex, high-impact environments and combines contextual awareness with a deep understanding of operational workflows.
“Over the past year, there has been a further acceleration of the digitalization and adoption of IoT devices across hospitals, pharmaceutical companies, biotech, life sciences, and manufacturing, which can decrease operational risk and increase efficiencies,” said Timur Ozekcin, Co-founder and CEO of Cylera.
Timur Ozekcin added: “However, with this expanded footprint and reliance on connected devices, organizations are experiencing attacks targeted at connected medical devices, operational technology and IoT devices to extort money, impact patient care and disrupt operations. With our latest round of funding, Cylera is fueling the next phase of innovation to safeguard organizations against cyberattacks on connected devices.”
“Cylera is one of the most exciting companies within the fast-growing HIoT sector. With its proven, ground-breaking technology already being used by some of the largest healthcare organizations and hospitals globally, it is well-positioned as a market leader in the space,” said Taylor Whitman, Managing Director at Concord Health Partners.
Healthcare Security Companies have raised $400 million since 2010, according to Mercom’s digital health funding data.