Endpoint/Device Security

Funding round lands $25M for MedCrypt

Medical device cybersecurity provider MedCrypt has landed $25 million in a Series B funding round, bringing total investment to $34 million, in a bid to better protect healthcare providers from medical device-targeted cyberattacks, according to SiliconAngle. MedCrypt has been offering a proactive medical device cybersecurity solution with behavior monitoring, cryptographic communication, and vulnerability management capabilities, which enable early alerts regarding suspicious behaviors and possible intrusions. The newly secured funds will be redirected to strengthen the platform's cryptography and behavior monitoring services, while bolstering vulnerability inventory offerings, said MedCrypt. MedCrypt added that more engineers are also expected to be sought by the company amid increasing medical device demand. "With the acceleration of complex medical device ecosystems in hospitals and homes across the United States, and growing expectations of patients, providers, and device manufacturers to meet higher standards for security protection, proactive and focused cybersecurity solutions are urgently needed," said Intuitive Ventures Managing Director Dr. Oliver Keown.

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