Medical Device Cybersecurity Startup Cynerio Raises $7M

Jack Murtha
JANUARY 09, 2019
cynerio,cynerio funding,iomt fraud

Medical device cybersecurity is not a simple task, and it’s not a simple business. Consider these challenges: A medical device with old software lags during patching, providing cyberattackers with a glaring vulnerability. Amid all the connectivity noise of a hospital, an MRI machine is communicating with a patient monitor, subtly signaling a data breach. Or hackers notice a device using an older operating system and exploit it to fuel a ransomware attack.

But risk breeds opportunity. Take Cynerio, for instance. Today the Israeli healthcare cybersecurity company announced $7 million in new funding, which it plans to use to jumpstart growth in North American markets. And Cynerio is targeting one specific angle that makes healthcare cybersecurity so complicated: threats to the Internet of Medical Things (IoMT).

>> READ: What’s Next for Cybersecurity in 2019?

“The U.S. healthcare market is woefully underserved by the security industry,” notes Amichai Shulman, an adviser to Cynerio. “Hospitals deserve cybersecurity solutions tailored to their needs, and this is where Cynerio can make a big difference…”

How? The startup says its Cynerio platform analyzes how medical data move through the IoMT, and that knowledge enables its solutions to identify all devices on a network. That allows its solutions to perform ongoing risk analysis, anomaly detection and threat defense, using artificial intelligence to ping and fight suspicious activity.

And the company’s leaders say they designed the cybersecurity tech specifically for healthcare, meaning they understand the unique challenges facing the industry. The idea is that health systems have more to lose than typical businesses — human lives, for example — but also can’t afford system downtime and its negative effects on patient care.

“We are delivering a tailor-made, healthcare-driven solution for providers to ensure patient safety and data protection while maintaining operational continuity,” Cynerio CEO and co-founder Leon Lerman says in a statement.

Investors Accelmed, RDC and MTIP financed the round. All three of the investors focus on medical devices, cybersecurity or digital health.

Cynerio’s cybersecurity tech is being used in Israel’s Rambam Hospital and Tel Aviv Medical Center.

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