Blackwell Security, a provider of specialized cybersecurity solutions personalized for the healthcare sector, announced a $13 million funding round co-led by General Catalyst and Rally Ventures to support healthcare security operations.
This funding round will be essential in expanding their Managed Healthcare Extended Detection and Response (MHXDR) offering, which is purpose-built to meet the needs and complexities of securing patient data and defending patient care for healthcare companies. These new funds will also be used to broaden their offerings within the U.S. market.
Resilience in healthcare operations is gaining importance, so urgent action is needed to support cybersecurity initiatives across the sector. However, healthcare organizations cannot safeguard patient data successfully without the proper resources, especially with evolving cyber threats and increasing regulatory pressures.
Blackwell’s MHXDR offering was built with these challenges in mind. Designed with HIPAA compliance, it can also enhance security operations in healthcare delivery and assurance settings. Plus, the offering reduces the number of alerts for security analysts and correctly identifies and elevates true threats to patient data and healthcare delivery.
This funding round will support the expansion of Blackwell’s offering, including capabilities such as their healthcare threat intelligence and automated response.
Blackwell partners with design partners, including health systems and General Catalyst’s Health Assurance Network, to test and develop healthcare threat detection and response processes. Together they are working to enhance the capabilities of Blackwell’s MHXDR offering, improve access to high-quality cybersecurity for healthcare companies, and drive the company’s mission to improve security posture across the healthcare industry.
In connection with the announcement, Blackwell appointed cyber security expert and business leader Geyer Jones as their first CEO. Jones has a proven track record of scaling operations, driving growth, and executing successful go-to-market strategies. More notably, he served as Chief Operating Officer of Cylera, a healthcare IoT cybersecurity company, and as Chief Strategy Officer at RSA. Jones will join the founders Jaclyn Miller, President and COO, and Jason Lee, CIO, along with decades of team expertise and deep knowledge of healthcare security needs.
KEY QUOTES:
“As health system CEOs and physician practice leaders, the past few years have underscored the vital importance of preparation for unforeseen events as a cornerstone for survival and success. Anticipating potential challenges is pivotal; what may seem unintended can often be predicted. Cybersecurity and data trust emerge as the next looming ‘pandemic,’ and as a healthcare leader, I perceive Blackwell Security’s approach to safeguarding healthcare organizations as akin to providing the essential ‘PPE’ in readiness for the inevitable threats to system security.”
– Stephen K. Klasko, M.D., M.B.A., General Catalyst Advisor
“It’s a privilege to join Blackwell Security and collaborate with General Catalyst and Rally Ventures in tackling the significant challenges of healthcare cybersecurity. From navigating intricate regulations to managing vendor risks and integrating legacy systems, our path ahead is clear but challenging. Blackwell’s acknowledgment of these realities highlights the importance of our innovative Pulse platform, crafted by Jaclyn, Jason, and their teams. Together, alongside our healthcare practitioners, we’re able to confront these issues head-on. I eagerly anticipate leading Blackwell through its next phase of growth, ensuring continued innovation and the safeguarding of healthcare cybersecurity.”
– Geyer Jones
