CyberMDX, a US-based provider of cybersecurity tools for healthcare IT systems, has collected $20m in a round led by healthcare insurance and risk management business Sham.
The round was filled out by venture capital firm Pitango Venture Capital and Qure Ventures, the digital health-focused VC fund formed by equity crowdfunding platform OurCrowd.
Founded in 2016, CyberMDX has developed a cybersecurity software platform for healthcare facilities that automatically guards multiple devices, such as smart medical equipment, which are connected to the client’s network, using artificial intelligence to mitigate identified threats.
The funding will drive CyberMDX’s technological research and geographical expansion, building on a strategic partnership it formed with Sham last month.
The company said it has now raised $30m altogether, having closed a $10m series A round led by Pitango and backed by Qure Ventures in July 2018. Its earlier investors also include VC fund FirstMinute Capital.
Dominique Godet, chief executive of Sham’s parent company, Relyens Group, said: “We are very excited to be leading this funding round.
“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.”