Security News > 2021 > March > Cylera raises $10M to protect organizations against cyberattacks on IoT devices

Cylera announced the company secured $10 million in Series A funding, led by Concord Health Partners and Maverick Ventures.

With the Series A close, Cylera brings the company's total funding to $17 million with investment from Concord Health Partners, Maverick Ventures, Contour Venture Partners, Two Sigma Ventures, Dreamit Ventures, Great Oaks Venture Capital, Red Bear Angels and Samsung NEXT. "Over the past year there has been a further acceleration of the digitalization and adoption of IoT devices across hospitals, pharmaceutical companies, biotech, life sciences and manufacturing, which can decrease operational risk and increase efficiencies," said Timur Ozekcin, Co-founder and CEO of Cylera.

"With our latest round of funding, Cylera is fueling the next phase of innovation to safeguard organizations against cyberattacks on connected devices."

"Cylera is one of the most exciting companies within the fast-growing HIoT sector. With its proven technology already being used by some of the largest healthcare organizations and hospitals globally, it is well-positioned as a market leader in the space," said Taylor Whitman, Managing Director at Concord Health Partners, LLC. "We are proud to continue on this journey with Cylera to have a direct impact on patient safety and help enable the technology globally."

Cylera additionally plans to use the funds to double the headcount across research and development, channel support, customer success, sales and marketing over the next 6 months.

"Maverick Ventures invested in Cylera once again due to the company's innovative approach to solving the IoT security issue, while beating out legacy vendors for new deals globally."

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