Cybersecurity asset management startup Axonius Inc. has reportedly acquired Cynerio Israel Ltd., a cybersecurity company focused on protecting healthcare environments, for $180 million.
According to Calcalist, which broke the news Saturday, the value of the acquisition could grow to $250 million, contingent on Cynerio achieving specific milestones.
Founded in 2017, Cynerio offers a cybersecurity platform that protects healthcare environments by securing connected medical devices and broader internet of things infrastructure. The company’s platform is tailored specifically to address the unique challenges of healthcare networks, where uptime, patient safety and regulatory compliance are critical.
Cynerio’s platform provides real-time visibility and control over all connected assets, including unmanaged IoT, operational technology and “internet of medical things” within hospitals and health systems. It does so with an artificial intelligence-powered network detection and response engine that continuously monitors device communications, identifies anomalies and detects threats such as ransomware, malware and unauthorized access attempts.
The company’s platform has been designed from the get-go to understand the clinical context of each device so that threats can be prioritized based on actual risk to patient care. It claims this enables faster and more effective responses from security and information technology teams.
Cynerio’s platform also includes comprehensive asset management features that give healthcare providers a full inventory of every connected device, its function, operating status and associated risks. Notably, the visibility also extends to legacy and embedded systems often invisible to standard IT tools.
Neither company has commented publicly on the acquisition yet.
Cynerio had raised $40 million over three rounds, according to data from Tracxn. Investors in the company included ALIVE Ventures, Accelmed, MTIP, Rafael Development Corp. Ltd., CBG Holdings, Herzog Law Firm and Elron Ventures Ltd.
Dean Sysman, co-founder and chief executive officer of Axonius, spoke with theCUBE, News Media’s livestreaming studio, in March, when he discussed how shadow IT, software-as-a-service sprawl and disconnected tools leave teams squinting at their environments through fractured lenses, with no clear cybersecurity visibility into what’s safe or exposed.
Image: Cynerio
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