Exostar, a Herndon, VA-based provider of solutions for companies in aerospace and defense, life sciences, and healthcare to mitigate risk and solve their identity and access challenges, raised $10m in funding.
The Merck Global Health Innovation Fund (Merck GHI) made the investment.
The company intends to use the funds to enhance and expand its HIPAA-compliant solutions.
Led by Richard Addi, President and CEO, Exostar provides pharmaceutical companies, healthcare providers, and others with HIPAA-compliant solutions to collaborate with one another to develop new drugs and therapies. The company’s information security solutions – such as the cloud-based Secure Access Manager (SAM) for federated identity and access management with web-based single sign-on – protect sensitive data and intellectual property while promoting the ongoing migration to partner-centric research and development and digital health.
Over 1000 global organizations rely on SAM to access applications, exchange information, and conduct business.
The company’s ProviderPass solution supports health IT vendors and healthcare providers with compliant electronic prescribing of controlled substances.