Medigate completes $30 million series B round to expand Tel Aviv R&D center

Tel Aviv-headquartered medical cybersecurity startup Medigate Tech Ltd. has raised a $30 million series B round led by new investor Partech Partners. Previous backers YL Ventures, U.S. Venture Partners, and Blumberg Capital, as well as first time investor Maor Investments, also participated in the round. The new round brings Medigate’s total funding to around $50 million. The company, which employs 90 people, 60 of them in Israel said it would use the new capital to recruit additional employees to its Tel Aviv R&D center.

As the volume and velocity of data generated from IoT and medical devices surges, healthcare organizations are expanding their digital strategies beyond their walls to include technology like wearable devices designed for patient monitoring and mobile devices used for telehealth.

“Thanks to the investment, we can quickly expand beyond the U.S. market and aid healthcare organizations around the world enjoy the same protections and ROI that the U.S. organizations do,” said Medigate co-founder and CEO Jonathan Langer.

Medigate’s solution addresses patient safety and privacy by automatically locating, identifying, and managing the security posture of all devices connected to the network, in addition to powering clinical engineering with the device data they’ve never had available before to manage their fleet of medical devices. Medigate has continued its tremendous growth by demonstrating how comprehensive device data leads to new ROI and cost savings in healthcare delivery organizations around the world, from the largest health systems to specialty hospitals.

“Medigate’s innovative approach to device visibility, security and management is giving hospitals confidence they can secure and manage the devices they’re connecting to their network,” said Jean Sini, general partner at Partech. “Their growth over the last two years is evidence that securing unmanaged devices is top of mind for healthcare leaders.”