Medigate Raises $30M in Series B Financing for Healthcare IoT Security

Medigate, an IoT and medical device security and asset management company, recently announced the completion of a $30M Series B round led by new investor Partech, a global technology investor known for its track record in scaling technology innovators globally. Existing investors YL Ventures, U.S. Venture Partners (USVP) and Blumberg Capital also participated in the round and were joined by Maor Investments. This brings Medigate’s total funding to $50M, including a Series A round completed in 2019.

Medigate will use the Series B investment to execute its vision of becoming healthcare’s security and clinical analytics company.

Medigate said it will use the investment to execute its vision of becoming healthcare’s security and clinical analytics company.

“Partech is a very sophisticated technology investor. With their backing, we will be able to quickly expand to help healthcare organizations around the world experience the same ROI as those in the United States,” said Jonathan Langer, CEO and Co-Founder, Medigate. “We are very appreciative of the continued support we receive from our investors at YL Ventures, USVP and Blumberg Capital and are excited to add Partech and Maor Investments to our team as we enter in the next phase of our growth.”

Medigate’s solution is designed to address patient safety and privacy by automatically locating, identifying and managing the security posture of all devices connected to the network, in addition to powering clinical engineering with the device data they’ve never had available before to manage their fleet of medical devices. Medigate says it has grown by demonstrating how comprehensive device data leads to new ROI and cost savings in healthcare delivery organizations around the world, from the largest health systems to specialty hospitals.

“Medigate’s innovative approach to device visibility, security and management is giving hospitals confidence they can secure and manage the devices they’re connecting to their network,” said Jean Sini, general partner at Partech. “Their growth over the last two years is evidence that securing unmanaged devices is top of mind for healthcare leaders.”