MedCrypt, an early-stage medical device software security company, closed a $750k seed financing.
The round was led by Safeguard Scientifics (NYSE: SFE) woth participation from a group of angel investors.
The company intends to use the proceeds to conduct commercial pilots with medical device vendors.
Led by Mike Kijewski, co-founder and CEO, Brett Hemenway, Ph.D., co-founder and chief scientific officer, and Eric Pancoast, MedCrypt is advancing a SaaS security platform for connected medical devices.
The company’s technology works with manufacturers to prevent unauthorized access and use of their medical devices by leveraging a machine-learning-based behavior analysis system to immediately flag unusual user behavior, as well as a “Threat Sharing” feature designed to facilitate anonymous communication between multiple medical device vendors.
The software is compatible with a wide range of devices, from MRI machines to defibrillators.