Cybersecurity Funding

Medical Device Security Firm Medigate Raises $15 Million

Medigate, a company that provides medical device security and asset management solutions, on Tuesday announced that it raised $15 million in a Series A funding round, which brings the total raised to date to over $20 million.

Eduard Kovacs

January 29, 2019

The funding round was led by US Venture Partners (USVP) with participation from current investors YL Ventures and Blumberg Capital. The company plans on using the new funds to accelerate growth and triple the number of employees across its R&D, marketing, sales and customer success departments over the next 18 months. The company currently has 35 employees.

Medigate’s solutions are designed to help healthcare organizations secure medical devices and manage assets by providing deep visibility into the systems present on their network. This allows organizations to identify anomalies and suspicious activity, and block malicious communications.

The company says it has dozens of customers, including major hospitals and other healthcare organizations in the United States and Canada.

“With regulators appropriately taking a hard look at medical device security and the sheer growth in the number of devices being added to already complex clinical networks, we believe Medigate has a significant opportunity to advance its growth trajectory and capture the market,” said Dr. Jonathan Root, general partner at USVP.

Medigate previously obtained $5.35 million in seed funding, which it announced in November 2017, when the company emerged from stealth mode.

Medigate’s headquarters are in New York and its R&D office is in Israel. The company also has a sales office in San Diego, California.

The company’s researchers have been credited for identifying vulnerabilities in medical devices made by Philips, Siemens and Roche.

Written By Eduard Kovacs

Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Latest News

Click to comment

Mapping Threat Intelligence to the NIST Compliance Framework Part 2

How threat intelligence is critical when justifying budget for GRC personnel, and for threat intelligence, incident response, security operations and CISO buyers.

Landon Winkelvoss

Password Dependency: How to Break the Cycle

Hackers rarely hack in anymore. They log in using stolen, weak, default, or otherwise compromised credentials. That’s why it’s so critical to break the password dependency cycle. But how can this be done?

Torsten George

Why CISOs Make Great Board Members

Cybersecurity-related risk is a top concern, so boards need to know they have the proper oversight in place. Even as first-timers, successful CISOs make for successful board members.

Galina Antova

A Change in Mindset: From a Threat-based to Risk-based Approach to Security

A threat-based approach to security often focuses on a checklist to meet industry requirements but overlooked the key component of security: reducing risk.

Marie Hattar

Secrets to a Good Security Webinar or Conference Presentation

Tips for making a presentation that will help improve the state of security programs and reflect favorably on the presenters and their companies

Joshua Goldfarb

Application Security

Source Code Security Firm Cycode Launches With $4.6 Million in Funding

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Eduard KovacsSeptember 24, 2019