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Asimily Announces Strategic Investment from MemorialCare Innovation Fund to Continue Innovation in IoT Device Security and Risk Management

Asimily

Asimily

By continuing to deliver new capabilities such as forensic analysis, Asimily will use the funding to accelerate the development of new platform tools and to expand into the healthcare industry.

SUNNYVALE, Calif., June 23, 2022 (GLOBE NEWSWIRE) — Asimily, a leading risk management platform for IoT devices and web-connected equipment, will accelerate its expansion into healthcare with strategic investment from MemorialCare InnovationFund. Announced today, the investment includes participation from Ridge Ventures, which led Asimily’s latest round. Asimily will also use the capital to create and release innovative new capabilities for comprehensive risk and security management of IoT devices.

Modern healthcare organizations – from medical and diagnostic practices to life sciences and pharmaceutical companies – depend on an ever-increasing number of web-connected devices and equipment to serve their patients, customers, partners and employees, and to develop their activities. The proliferation of IoT in the healthcare sector demands a totally different approach to providing security than the existing endpoint and server infrastructure the industry is used to. Security risks for healthcare organizations are and will continue to come from surprising new vectors, while many vulnerabilities that traditional cybersecurity solutions would otherwise flag as dangerous are inconsequential. Effective and efficient IoT device security depends on the accuracy and speed with which vulnerability risks can be identified, prioritized, and remediated with a solution specifically designed for healthcare organizations.

Asimily has led the charge in developing and delivering the best in vulnerability management, anomaly detection, threat investigation and incident response to clients. The company continues to release innovative tools and modules that stay ahead of the rapidly changing threat landscape. Among its most recent additions is a built-in policy management module that allows searching across network data through a simple GUI (similar to Google network data) for indicators of compromise and risky activity. . Asimily’s Distributed Sniffer, also newly added, provides healthcare organizations with an investigative tool for incident response and forensics to reveal the specific tactics and techniques an attacker is using. Capabilities like these continue to strengthen the Asimily platform as the one-stop compression risk management solution for the healthcare industry.

“Across medical, diagnostic, life science and pharmaceutical companies, the demand for IoT device risk management continues to grow rapidly,” said Shankar Somasundaram, CEO of Asimily. “The value that web-connected devices and equipment can bring to healthcare businesses is clear, but how to ensure their security has been a challenge for many. We have built our business and our platform to address this industry need head-on. We are delighted to work with MemorialCare Innovation Fund as a strategic investor and, alongside Ridge Ventures, we look forward to putting this capital to work to drive commercial development and accelerate delivery of new capabilities designed to address threats. evolving IoT security solutions.

“We believe Asimily has built an impressive team that has identified a critical and growing market need across the healthcare industry and has created a proven solution that addresses IoT device security requirements that is significantly better than anything else in the market today,” said Brant Heise, Managing Director, MemorialCare Innovation Fund. “We look forward to supporting Asimily’s rapid growth and success as it enables IoT device security and compliance across the healthcare ecosystem.”

Asimily’s unique IoT security and risk mitigation capabilities are increasingly critical as the healthcare industry accelerates the implementation of connected devices. With ransomware attacks alone costing healthcare organizations $20.8 billion in downtime in 2020 (double the previous year), the stakes are clear. Asimily has consistently increased revenue and customers by 100% year over year, with average transaction sizes also increasing as more connected devices come online. The Asimily platform now secures more than 20 million medical IoT devices and analyzes more than 1000 terabytes of data daily to protect these devices against risks.

Asimily continues to garner considerable attention and accolades throughout the cybersecurity industry. In the first half of 2022 alone, Asimily won seven major cybersecurity awards, adding to a similar list of high-profile awards throughout 2021.

About Asimily

Asimily has built an industry-leading risk management platform that secures IoT devices for medical, diagnostic, life science and pharmaceutical companies in the healthcare industry. With the most comprehensive knowledge base on IoT and security protocols, Asimily lists and categorizes every device in a healthcare facility, whether connected or standalone. Because risk assessment – and threats – are not a static target, Asimily monitors healthcare facility devices, detects abnormal behavior and alerts operators to correct any identified anomalies. With secure medical, laboratory, IoT/OT and IT equipment, Asimily customers know their critical devices and data are safe.

About the MemorialCare Innovation Fund

The MemorialCare Innovation Fund (MCIF) provides strategic investment funding to accelerate the development of companies in the information technology, health services and medical device sectors that can advance effective and efficient healthcare. high quality. MCIF focuses on companies delivering innovative products, services and technologies that help health systems dramatically improve performance and outcomes and achieve their community missions. To learn more about the MemorialCare Innovation Fund, please visit: http://www.MemorialCareInnovationFund.com.

Contact
Kyle Peterson
kyle@clementpeterson.com

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