Health2047 – a Silicon Valley-based venture studio founded by the American Medical Association (AMA) – announced its investment in and launch from stealth of portfolio company HEAL Security, a cognitive cybersecurity intelligence platform custom-designed for the healthcare sector. So far, Health2047 invested $2.3 million in HEAL Security, with additional co-investor funding bringing its total pre-seed investment to $4.6 million.
For the first quarter of 2023, hospitals and health systems were the biggest target of cybersecurity threats due to the large amount of valuable patient information in electronic health records (EHRs). So patient information is at risk and breaches have a ripple-down effect and can cause systems to shut down completely. And as healthcare becomes more digitized and data is further dispersed between different stakeholders, hospitals, health systems and EHRs, the industry is at a heightened risk of attack and requires more secure solutions.
HEAL Security’s platform is the healthcare industry’s shield by offering real-time and tailored cyber threat intelligence that empowers health systems to proactively safeguard business-critical data, systems and personnel.
By offering real-time, actionable insights, HEAL Security equips healthcare providers with the tools necessary to navigate the complexities of the digital age, ensuring the safety and confidentiality of patient data against a backdrop of ever-evolving cyber threats. And the company was founded in 2021 in response to the growing number of cyber attacks on the healthcare industry and stands out as the sole cyber intelligence entity exclusively devoted to healthcare. Plus, it launches out of stealth with its flagship solution HEAL Security Desktop, a cohesive platform that consolidates the latest data, insights, and assessments of the global healthcare cybersecurity landscape into a dashboard, enabling customers to evaluate and take action against cyber threats and risks.
KEY QUOTES:
“Cybersecurity data sprawl has historically left hospital leaders navigating a labyrinth to assess and gather a true understanding of their risk of breach. Our platform synthesizes, aggregates and contextualizes this data, offering clarity and actionable strategies. Health2047’s investment empowers us to provide the healthcare sector with the requisite arsenal to safeguard patient data and continuity of care.”
— Charles Aunger, founder and CEO of HEAL Security
“The economic toll of data breaches on healthcare in recent years is nothing short of astronomical. The sector has experienced nearly $7.8 billion in losses due to breaches since 2016. The threat is so pervasive that some institutions are having to revert to paper records, setting back healthcare’s digital evolution and making it harder for physicians to perform their duties. Our investment in HEAL Security underscores Health2047’s commitment to building solutions that tackle these issues at the system level for the good of physicians and patients.”
— Lawrence K. Cohen, CEO of Health2047
