New York-based CyberMDX announces that it has secured $20 million in funding, bringing its accumulated fundraising to a total of $30 million. The current investment was led by Sham (Relyens group), Europe’s largest insurance and risk management provider for healthcare, with participation from existing investors Pitango Venture Capital and Qure Ventures.

CyberMDX will use the funding to support its plans for geographic expansion and market entrenchment. The investment will also enable the company to further develop its technology platform and research capabilities. 

“We are very excited to be leading this funding round,” says Relyens group CEO, Dominique Godet. “CyberMDX is a leader in the healthcare cybersecurity arena and their offering is well timed with the rapidly increasing demand for solutions that help ensure hospitals continue running smoothly. We look forward to collaborating with and supporting them as they accelerate into their next wave of expansion.”

Both IT and biomed teams are facing extreme pressure and increased importance as a result of the situation caused by COVID-19. CyberMDX’s technology is designed to automate and simplify the way devices are identified, protected, and utilized—helping hospital staff achieve more with less resources.

“CyberMDX has been leading the market, helping healthcare organizations identify, optimize and secure their critical assets,” says Amir Magner, CEO and co-founder at CyberMDX. “In light of COVID-19 and the unprecedented international impact, we see it as part of our mission to support the healthcare community in these challenging times. We are incredibly excited to be backed by strong investors, with backgrounds in both capital and commercial markets. For us, this is key to quickly executing of our company’s mission and growing of our ambition.”

CyberMDX will continue to build upon its strategic partnership with Sham (Relyens group) to tap into its healthcare industry expertise and customer base to provide hospitals an end-to-end risk management and operational efficiency solution.