SA国际传媒

New York-based closed a $10 million Series A, looking to help protect hospitals from cyberattacks and keep vital medical equipment working.

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The new round brings the company’s total funding to $17 million and was led by and . Other investors in the company include , , , and .

The health care IT cybersecurity space was expected to heat up this year, and thus far has not disappointed. On Feb. 23, Palo Alto, California-based Armis Security 鈥� a leader in IoT security including that for health care 鈥� raised $125 million at a $2 billion valuation. That was followed by two acquisitions, when on Feb. 23 bought health care data integration and security provider , and 10 days later acquired IoT cybersecurity firm .

鈥淭he Armis deal helped validate the market,鈥� said Cylera鈥檚 co-founder and CEO . 鈥淲e feel this is the time to rev up.鈥�

Connected devices

Founded in 2017, Cylera developed its platform for three years before becoming revenue producing last year. The platform helps hospitals manage assets as well as analyse risk and threat detection.

Taylor Whitman, managing director at Concord Health Partners, said one of the key aspects of the platform is its ability to quarantine connected devices, but not completely shut them down, which could be problematic in a hospital setting with vital devices.

鈥淲ith everything connected 鈥� and that is not going to go away 鈥� security just is so paramount,鈥� he said.

Growing market

Ozekcin acknowledged the growing health care IT security market, mentioning companies that have all entered the space, such as and , let alone large IoT players like Armis. Nevertheless, Cylera has big plans for the new funding and its future growth.

The company plans to double its 26-person workforce in the next 6 months, as well as look to get into new geographies such as Asia-Pacific and creeping farther into Europe.

Although the company just announced its Series A, Ozekcin acknowledged he can envision a Series A1 or B within a year as the company pushes growth.

鈥淚t鈥檒l be driven by the market,鈥� he said. 鈥淏ut it could even be sooner.鈥�

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