CyberMDX

Company Overview

Snapshot

Founded in December 2016 by Moti Shniberg and Amir Magner, CyberMDX operated with 11–50 employees. The company raised $35 million across 4 funding rounds from 6 investors. In February 2022, CyberMDX was acquired by Forescout Technologies, marking a significant exit for the healthcare cybersecurity firm.

Business overview

CyberMDX specialized in providing cybersecurity and visibility solutions for medical devices and clinical assets. Its core product, MDefend, offered network visibility and threat prevention, ensuring operational resilience and protecting patient and data safety within healthcare environments. The company's technology focused on continuous network endpoint discovery, comprehensive risk assessment, and AI-assisted containment and response measures, serving the healthcare industry by securing the Internet of Medical Things (IoMT).

Strategic signal

The acquisition of CyberMDX by Forescout Technologies in February 2022 for an estimated $80 million significantly strengthened Forescout's position in the healthcare cybersecurity market. This event signals a consolidation trend in the specialized cybersecurity sector, where established players are integrating innovative solutions to expand capabilities and address the growing vulnerabilities of connected medical devices. For investors, this highlights the strategic value of niche cybersecurity firms with proven technology in critical infrastructure sectors like healthcare.

Company Intelligence Q&A

What was the most significant recent corporate development for CyberMDX?

In February 2022, CyberMDX was acquired by Forescout Technologies for an estimated $80 million. This acquisition aimed to strengthen Forescout's presence in the healthcare market and expand its capabilities in securing medical devices and clinical networks.

Which companies partnered with CyberMDX to enhance healthcare security?

In December 2020, Philips partnered with CyberMDX to integrate its healthcare security solution into Philips' new healthcare-focused cybersecurity services. Additionally, in March 2020, CyberMDX and Sham (Relyens group) partnered to deliver proactive risk management solutions for healthcare organizations.

What was CyberMDX's role in identifying vulnerabilities in medical devices?

In December 2020, CyberMDX's research team discovered critical vulnerabilities in Dell Wyse Thin Client devices, which were subsequently remediated by Dell. In January 2020, CyberMDX also identified a collection of six cybersecurity vulnerabilities in GE Healthcare devices, collaborating with GE and the US Department of Homeland Security to address them.

What recognition did CyberMDX receive for its technology innovation?

In September 2020, Frost & Sullivan recognized CyberMDX with its 2020 Technology Innovation Leadership Award for its leadership in medical devices and assets security technology innovation in North America.

When did CyberMDX make its solutions available on AWS Marketplace?

In September 2020, CyberMDX announced that its solutions for medical networks and IoMT device security were available in AWS Marketplace, aiming to provide healthcare providers with easier access to its cybersecurity offerings.