Y Combinator graduate MedCrypt has secured $5.3m in a funding round led by Section 32 and featuring existing investors Eniac Ventures and Y Combinator. MedCrypt is developing cybersecurity tools to make health care devices secure by design as growing numbers of IoT medical hardware come to market. The company was founded in 2014 with the goal of creating an open source platform for healthcare providers that would allow them to securely connect their devices, such as pacemakers, insulin pumps, or blood glucose monitors,
Y Combinator graduate MedCrypt has secured $5.3m in a funding round led by Section 32 and featuring existing investors Eniac Ventures and Y Combinator. MedCrypt is developing cybersecurity tools to make health care devices secure by design as growing numbers of IoT medical hardware come to market. A report by CynergisTek revealed the US health care industry was 72% compliant with the HIPAA Security Rule for protecting patient data, while in 2018 more than six million patient records were exposed in cyber attacks, according to Health IT Security.