As required by U.S. law, MedCrypt actively participates in the provision of medical device security in accordance with its regulatory guidelines. The company was founded in 2016 and is based in Southern California. In order to protect data transfer and storage, MedCrypt offers cryptography solutions. The software also tracks real-time and remote monitoring of data to ensure early detection of suspicious activity..
The FDA released its most recent cybersecurity guidance for medical devices in premarket status in October 2018. A similar solution had been under development at the company for the previous three years. The FDA’s new guidelines favour the introduction of the new technology sought by the business.
There was a $5.3 million round of funding for MedCrypt’s series A round of funding. Y Combinators and Eniac Venture were among the investors. The company now has a total of $8.3 million in funding, including the $1.9 million raised in the seed round last year.
The medical device industry has not been exempt from the effects of the digital revolution. As a result, there is a growing demand for cybersecurity to ensure the safe storage, transfer, and use of patient health information. In addition to MedCrypt, many other businesses are making significant investments in cybersecurity services to ensure secure data storage. When it comes to early-2019 startups that raised $15 million, Medigate is a good example. An asset management platform and device security tools are provided by Medigate It was also on 13 May, 2019 that Thirdwayv of California introduced its AppAuth software for the internet of things (IoT) to guarantee security. Competition is expected to be fierce as a result of the influx of new technologies.