Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

MedCrypt Raises $1.9 Million in Funding, Round Led by Eniac Ventures

MedCrypt Raises $1.9 Million in Funding, Round Led by Eniac Ventures

Funds will accelerate commercial deployment of cryptographically embedded cybersecurity software for medical devices

ENCINITAS, Calif- MedCrypt, a medical device cybersecurity technology provider, today announces $1.9 million in new funding. The seed round was led by Eniac Ventures, with participation from Sway Ventures, Nex Cubed, Oronoco Investments and Friedman BioVentures.

The financing will accelerate the commercial deployment of cryptographically embedded cybersecurity software for medical device makers, which includes customers Reflexion Medical, QuiO and more.

“The FDA is cracking down on medical device cybersecurity by releasing more robust regulations by which medical device vendors and healthcare delivery organizations are required to abide,” says Mike Kijewski, CEO and co-founder, MedCrypt. “Our solution lets these organizations protect their devices – and patients – with just a few lines of code. We’re thrilled to gain additional funding and support to help accelerate our technology.”

“Cyber threats are an exponentially increasing problem that is threatening businesses, governments, households and, in healthcare, even lives,” said Tim Young, founding general partner at Eniac Ventures. “MedCrypt has already set itself apart with a seasoned technical team and proprietary technology that is helping the largest medical device makers in the world protect their devices and the underlying users. Our team is excited to support Mike Kijewski and Eric Pancost in continuing to build out MedCrypt as the most comprehensive security layer for healthcare IT.”

Cyber crime damage costs are projected to reach $6 trillion annually by year 2021, and last year the healthcare industry reported more than 447 breaches. MedCrypt’s cryptographically embedded security software helps medical device vendors build products that are Secure By Design and monitor behavior of these devices once they are deployed. MedCrypt-enabled devices will be ensured they meet the FDA cybersecurity regulations and will provide the hospital or medical facility security team with a more robust solution to encrypt, monitor and protect in real-time.

This additional financing brings the company’s total to-date funding to $3 million. Existing additional investors include Safeguard Scientifics and Long River Ventures. MedCrypt recently won the HIMSS Venture Connect startup contest, held at HIMSS18 earlier this year. The company was also named a San Diego Venture Group 2018 “Cool Company.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post