Cynerio 30m Series is a startup that provides security solutions for mission-critical IoT and medical devices. It has raised $30M in Series B funding. Accel led the round, which also included existing investors Microsoft Ventures and MassMutual Ventures.
Cynerio Iot 30m Series was founded in 2016. It provides a platform to help organizations protect their IoT and medical devices from cyber threats. It uses machine learning to identify malicious traffic and block attacks in real-time.
According to the company, its platform is being used by more than 100 customers including hospitals, clinics and device manufacturers.
Cynerio CEO Yaronovitch stated that “as more devices connect to the internet, it is becoming more important for security solutions that can protect them against cyber threats.” “Our platform allows organizations to protect their devices without affecting the functionality or performance of the devices.”
Cynerio 30m Series will use the funding to increase its sales and marketing efforts as well as to continue investing in research and development.
Shahar Tzafrir, the Accel partner, stated that “the IoT market has been growing rapidly” and that Cynerio has the potential to be the best security solution for mission-critical IoT devices. “We are excited to work with the team as they grow the business.
To date, Cynerio iot30m Series has raised $41 million.
Cybercriminals are increasingly targeting mission-critical IoT and medical devices because of the sensitive data they have. The WannaCry ransomware attacks in 2017 affected over 150 countries, and more than 200,000 organizations, including businesses and governments.
Both healthcare providers and device manufacturers are concerned about cybersecurity. The FDA issued guidance in 2018 on cybersecurity for medical devices. In 2019, the FDA recalled 465,000 pacemakers because of cybersecurity concerns.
Cynerio’s platform is designed to help organizations protect their devices against these types of attacks. Cynerio’s technology uses machine learning to analyze traffic and detect malicious activity. It can also block attacks in real-time.
Cynerio’s platform can be used by more than 100 customers currently, including hospitals and clinics as well as device manufacturers. Cynerio will use the funding to expand its marketing and sales efforts as well as invest in research and development.
Cynerio 30m Series is a cybersecurity startup that protects mission-critical IoT and medical devices. It has raised $30M in Series B funding.
Accel led the round, along with Tenaya Capital and Glilot Capital Partners. Our crowd was also involved. This brings Cynerio’s total funding up to $48 million.
Cynerio was founded in 2016 and provides real-time visibility, protection, and monitoring of connected medical devices and other IoT devices. Machine learning is used to detect potential vulnerabilities and threats, and then it takes steps to mitigate them.
Canario offers managed security services to healthcare organizations in addition to the platform. These services allow organizations to secure their medical devices and comply with regulations like HIPAA.
Cynerio’s clients include some of the most prominent healthcare organizations around the globe, including Mayo Clinic, Stanford Children’s Health, and UC San Diego Health.
According to the company, it plans to use the funding to expand its platform, and services and grow its workforce. Cynerio currently employs 70 people and plans to hire 30 more over the next year.