Medigate raises $5.35 million to help secure medical devices from attack

Medigate, an Israeli medical device cybersecurity company, has raised $5.35 million in seed funding led by YL Ventures with additional funding from Blumberg Capital.

Cyberattacks on connected medical devices are on the rise putting patient privacy and electronic medical records at risk. Medical devices require extra care because they cannot be patched as quickly regular IT software and hardware. Medigate is a platform for securing and managing networked medical equipment by providing visibility of all medical devices on the network for analysis.

“It's an imperative to connect devices to the network, both to manage and monitor devices in real time and to understand and analyse the large amounts of data generated from these devices,” said Jonathan Langer, CEO of Medigate. “At the same time, we see backdoor attacks like MEDJACK and ransomware attacks like WannaCry and NotPetya successfully targeting healthcare providers. Connected devices are a ripe target for cybercriminals.”

“With the pandemic of cyberattacks targeting healthcare providers, this leaves far too many connected devices vulnerable and exposed, putting patient health and privacy at risk. Providers simply can’t afford to leave this problem undiagnosed and untreated much longer,” commented Yoav Leitersdorf, managing partner at YL Ventures.

The company has launched the platform with a select number of customers with a general release planned for mid-2018.