CyberMDX Secures $20 Million in Funding to Secure Hospital Networks and Critical Medical and IoT Devices

NEW YORK, April 7, 2020 /PRNewswire/ -- CyberMDX, a leading healthcare cybersecurity provider delivering visibility, threat prevention, and operational efficiency for medical devices, IoT, and clinical networks, announced today it secured $20 million in funding, bringing its fundraising total to $30 million. The current investment was led by Sham (Relyens group), Europe's largest insurance and risk management provider for healthcare, with participation from existing investors Pitango Venture Capital and Qure Ventures.

Building off of strong growth in 2019, CyberMDX will use the funding to boost geographic expansion and go-to-market activities. The investment will also enable the company to further expand its technology platform and research capabilities to assist hospital IT and Biomed teams in securing and managing all network connected devices.

"We are very excited to be leading this funding round," said Relyens group CEO, Dominique Godet. "CyberMDX is a leader in the healthcare cybersecurity arena and their offering is well timed with the rapidly increasing demand for solutions that help ensure hospitals continue running smoothly. We look forward to collaborating with and supporting them as they accelerate into their next wave of expansion."

Both IT and Biomed organizations are facing extreme pressure, elevated by the situation caused by COVID-19. CyberMDX's solution is designed to automate and simplify the way devices are identified and protected, helping hospital staff achieve more with less resources.  

"CyberMDX has been leading the market, helping healthcare organizations identify, optimize and secure their critical assets," said Amir Magner, CEO and co-founder at CyberMDX.

"Nowadays, in light of COVID-19 and unprecedented events, we see it as part of our mission to support the healthcare community in its challenging time. We are incredibly excited to be backed by strong investors with a healthy mixture of VC and strategic commercial syndicate that will enable faster execution and growth of our company's mission."

CyberMDX will continue to build upon its strategic partnership with Sham (Relyens group) and its healthcare expertise, with thousands of customers to provide a first of its kind, end-to-end risk management and operational efficiency solution for hospitals.

About CyberMDX

A pioneer in medical cybersecurity, CyberMDX is the company behind the leading IoMT visibility and security solution. CyberMDX identifies, categorizes, and protects connected medical devices ? ensuring resiliency as well as patient safety and data privacy. With CyberMDX's continuous endpoint discovery & mapping, comprehensive risk assessment, AI-powered containment & response, and operational analytics, risks are easily mitigated and assets optimized. For more information, please visit www.cybermdx.com

About Sham (Relyens group)

Founded in France in 1927 by hospital directors, Sham, a mutual insurance company specializing in insurance and risk management, has for more than 90 years been a solid, constant partner to the healthcare and medical and social care sectors.

Relyens is the leading European mutual group providing insurance and risk management services to healthcare professionals and local authorities that deliver public interest services. With nearly 1,100 employees, more than 30,000 customers and members, and 900,000 people covered in four countries (France, Spain, Italy and Germany), in 2018 Relyens collected ?847 million in premiums and generated revenue of ?456 million. In December 2019, the A.M. Best rating agency once again affirmed the Financial Strength Rating and Issuer Credit Rating of "A- (Excellent), stable outlook" of the group.

www.sham.fr  /Twitter: @Sham_France / LinkedIn: SHAM

www.relyens.eu  / Twitter: @Relyens / LinkedIn: Relyens

Media Contact
Jon Rabinowitz
VP Marketing, CyberMDX  
[email protected]

SOURCE CyberMDX