Medical device cybersecurity startup Medigate has raised $15 million in a Series A round led by U.S. Venture Partners and with participation from YL Ventures and Blumberg Capital.

The company intends to use the money to accelerate growth and triple its teams in R&D, sales, marketing and customer success.

“With the headcount expansion across R&D, sales and customer success you will see further technology developments. We have an extensive roadmap as well the ability to develop new technologies as customers share new needs,” Medigate CEO Jonathan Langer said in response to emailed questions. “As we build our customer base, the need for customer service/customer experience also grows.”

This funding follows the $5.35 million in seed funding the company secured in 2017. That money came from YL Ventures and Blumberg Capital.

Langer noted that YL Ventures and Blumberg Capital, which are the company’s original investors, “specialize in startups.” U.S. Venture Partners, a new investor in Medigate, has a portfolio in healthcare and security.

“Medigate’s unique technology platform, strategic partnerships with industry-leading security vendors and traction over the last year in the healthcare market made the company an attractive investment,” Jacques Benkoski, partner at U.S. Venture Partners, said in a statement. Benkoski will also join Medigate’s board of directors.

The startup offers a medical device security and asset management platform. It identifies, fingerprints and tags each device on an organization’s clinical network. The platform analyzes device and network communication as a way to detect abnormal behavior and pinpoint threats in real time. Additionally, its security capabilities keep medical devices protected.

Langer described it like this: “With Medigate, hospital networks can safely operate all medical devices on their network, enabling deployment of existing and new devices to patients while ensuring privacy and safety.”

The company was founded in 2017 by Langer, Itay Kirshenbaum (vice president of R&D) and Pini Pinhasov (vice president of product). It has offices in San Diego, New York City and Tel Aviv, Israel.

Currently, Medigate has partnerships with companies like Nuvolo, Cisco and Palo Alto Networks. Through the Cisco collaboration, Medigate integrates its medical device fingerprinting capabilities into the Cisco identity services engine. The alliance with Palo Alto Networks adds Medigate’s user, device and application information to PAN’s security platform to protect devices through clinically-informed security policies.

As far as customers, Langer said the company doesn’t have any healthcare clients that are willing to be named at this time.

Photo: weerapatkiatdumrong, Getty Images



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