Cynerio, a provider of Healthcare IoT cybersecurity and asset management solutions, secured $30 million in Series B funding.
ALIVE Israel HealthTech Fund led the investment round with participation from existing investors, VC Accelmed, RDC, MTIP, a Swiss-based growth investor, CBG owned by Vincent Tchenguiz, and a UAE-based investment group.
Cynerio plans to use the latest funding to develop its go-to cybersecurity and asset management solution, expand its channel program, form strategic partnerships with solution providers, and expand its clinically intelligent toolbox of preemptive and proactive zero trust solutions into a full-service, responsive security platform.
According to the company, the funding will further support the acceleration of technological development and global expansion.
Cynerio develops a cloud-based healthcare IoT security platform. The clinically intelligent platform automates asset discovery and risk reduction. It takes the healthcare IoT security beyond visibility, providing healthcare teams with the ability to identify problems on their network, solve them, and secure their organization to ensure patient safety, data integrity, and operational continuity.
Cynerio cofounder and CEO Leon Lerman said, “It’s critical to have partners who intimately understand the healthcare industry and its exceptional needs, especially now with the unprecedented pressures COVID-19 has introduced.
Leon Lerman added that with the new funds, “We’ll be able to continue advancing our product offerings to support healthcare providers, with unparalleled threat detection, preemptive security, and response capabilities while alleviating healthcare’s coinciding operational challenges.”
Cynerio reported a 300% year-over-year revenue increase in 2020. “We’re very excited to lead this investment round in Cynerio, the industry leader,” said Dudi Klein, Managing Partner at ALIVE. “As a team of veteran healthcare leaders, we know the importance of healthcare cybersecurity first-hand. Cynerio’s exceptional team has created an intuitive, cost-effective, and high-quality suite of solutions that healthcare professionals can rely on to protect their patients, staff, and business integrity with confidence.”
Digital Health companies raised a record $7.2 billion in VC funding in Q1 2021, according to the latest Mercom Digital Health Funding and M&A Report.
