Medigate aims to take a new approach to IoT healthcare security with $5.35m funding
The Internet of Things (IoT) is all set to revolutionise the end to end healthcare process; from wearables which collect patient data in real-time, to algorithms which can come up with new diagnoses. Yet securing all of these devices is the major risk.
Meet Medigate. The startup, based out of Israel, has just secured a $5.35 million (£4.08m) funding round for its platform, which secures networked devices alongside medical records, device servers, and other enterprise systems. The capital was raised by YL Ventures with additional funding from Blumberg Capital.
As the company explains in an FAQ, medical devices are not regular IT endpoints, and therefore current security solutions do not provide an appropriate layer of protection as they do not address the medical workflow. Medigate’s solution, the company claims, through offering discovery and identification, threat detection and attack prevention, fuses medical understanding with cyber security expertise.
In a blog post, seen by IoT News prior to publication, the company’s CEO, Jonathan Langer, cited the WannaCry ransomware attack back in May as the ‘big bang’ for both the industry and his company vision. Langer went back and forth with healthcare CISOs to determine both the immediacy of the threat – quickly confirmed – and that his idea both resonated and was unique to the market.
“I went back to the CISOs and tried to understand what made the clinical networks so susceptible to cyberattacks,” Langer wrote. “The short answer was that the ‘defence in depth’ cybersecurity paradigm just doesn’t apply to clinical networks and a new paradigm was needed.
“The reason is the endpoint solution (EPS) layer in medical devices, whether legacy or newly manufactured, are not ‘normal’ IT infrastructure end points because they are situated in mission critical environments, are not internet-facing, and use [Food and Drug Administration]-approved software.
“These unique characteristics were exactly what I was looking for,” Langer added. “What if we could create an additional layer of defence, compensating for lack of EPS, that was dedicated to the medical devices and the clinical networks?
“The thought of this prospect was incredibly exciting.”
According to a blog post from Yoav Leitersdorf, managing director of YL Ventures, the next few months will be spent packed full of meetings with US-based healthcare CISOs and medical device manufacturers, building an R&D team, and thinking through go-to-market strategies.
From the investment side, Leitersdorf noted his team were struck by a ‘superb team solving a huge problem in an open space with deep technology.’ “The case here was obvious – the proliferation of connected medical devices in healthcare creates a lot of value for providers and their customers, but it also represents an ever-expanding number of entry points for cyber attacks,” wrote Leitersdorf. “As we see often in this industry, novel technologies are usually accompanied by novel threats.”
According to a study issued by ZingBox in July, there remains a series of ‘misconceptions’ around IoT healthcare security. More than three quarters of IT decisions polled within healthcare organisations were said to be confident, or ‘over-confident’, about the security of connected devices on their network.
You can find out more about Medigate here.
Picture credit: Medigate. From left: Pini Pinhasov, Oran Avraham, Jonathan Langer, Vitali Sepetnitsky, Nir Benudiz, Itay Kirshenbaum
Interested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.
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