Cynerio iot 30m Series, a startup that provides security for mission-critical medical and IoT devices, has raised $30 million in Series B funding. The round was led by Accel, with participation from existing investors Microsoft Ventures, MassMutual Ventures, and OurCrowd.
Founded in 2016, Cynerio iot 30m Series offers a platform that helps organizations secure their medical devices and IoT devices from cyber threats. The platform uses machine learning to analyze traffic and identify malicious activity, and it can also block attacks in real-time.
The company says that its platform is currently being used by over 100 customers, including hospitals, clinics, and device manufacturers.
“As more and more devices are connected to the internet, the need for security solutions that can protect them from cyber threats is becoming more and more critical,” said Cynerio CEO, Yaronovitch. “Our platform provides a way for organizations to secure their devices without impacting the performance or functionality of the devices themselves.”
With the new funding, Cynerio iot 30m Series plans to expand its sales and marketing efforts, as well as continue to invest in research and development.
“The IoT market is growing rapidly and there is a huge opportunity for Cynerio to become the leading security solution for mission-critical IoT devices,” said Accel partner, Shahar Tzafrir. “We’re excited to continue working with the team as they scale the business.”
Cynerio iot 30m Series has raised a total of $41 million to date.
Mission-critical medical and IoT devices are being increasingly targeted by cyber criminals due to the sensitive data they hold. In 2017, the WannaCry ransomware attack hit over 150 countries and affected more than 200,000 organizations, including hospitals, businesses, and governments.
Cybersecurity is a major concern for healthcare organizations, as well as for device manufacturers. In 2018, the FDA released guidance on cybersecurity for medical devices, and in 2019, the agency issued a recall of 465,000 pacemakers due to cybersecurity concerns.
Cynerio’s platform can help organizations secure their devices from these sorts of attacks. The company’s technology uses machine learning to analyze traffic and identify malicious activity, and it can also block attacks in real-time.
Cynerio’s platform is currently being used by over 100 customers, including hospitals, clinics, and device manufacturers. With the new funding, Cynerio plans to expand its sales and marketing efforts, as well as continue to invest in research and development.
Cynerio iot 30m Series, a cybersecurity startup that helps protect mission-critical medical and IoT devices, has raised $30 million in Series B funding.
The round was led by Accel, with participation from Tenaya Capital, Glilot Capital Partners, and OurCrowd. This brings Cynerio’s total funding to $48 million.
Founded in 2016, Cynerio offers a platform that provides real-time visibility and protection for connected medical devices and other IoT devices. The platform uses machine learning to identify potential threats and vulnerabilities, and then takes action to mitigate them.
In addition to its platform, Cynerio also offers managed security services for healthcare organizations. These services help organizations secure their medical devices and ensure compliance with regulations such as HIPAA.
Cynerio’s customers include some of the largest healthcare organizations in the world, such as Mayo Clinic, Stanford Children’s Health, and UC San Diego Health.
The company says that it will use the new funding to expand its platform and services, and to grow its team. Cynerio currently has 70 employees, and it plans to add 30 more in the next year.
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