ANN ARBOR, Mich., May 07, 2024 (GLOBE NEWSWIRE) -- Blackwell Security, a provider of specialized cybersecurity solutions tailored for the healthcare sector, announced today a $13M round of funding co-led by General Catalyst and Rally Ventures to help bolster security operations in healthcare. The funding will be instrumental in expanding their Managed Healthcare Extended Detection and Response (MHXDR) offering, purpose-built for the needs and complexities of securing patient data and defending patient care for healthcare companies. These new funds will also be used to broaden their offerings within the U.S. market.
“As health system CEOs and physician practice leaders, the past few years have underscored the vital importance of preparation for unforeseen events as a cornerstone for survival and success,” said Stephen K. Klasko, M.D., M.B.A., General Catalyst Advisor. “Anticipating potential challenges is pivotal; what may seem unintended can often be predicted. Cybersecurity and data trust emerge as the next looming 'pandemic,' and as a healthcare leader, I perceive Blackwell Security's approach to safeguarding healthcare organizations as akin to providing the essential 'PPE' in readiness for the inevitable threats to system security.”
With resilience in healthcare operations gaining paramount importance, urgent action is needed to bolster cybersecurity initiatives across the sector. However, without the proper resources, it's nearly impossible for healthcare organizations to successfully safeguard patient data, especially with evolving cyber threats and increasing regulatory pressures. Blackwell’s MHXDR offering is designed with these challenges in mind. Equipped with HIPAA compliance, they have the ability to enhance security operations in healthcare delivery and healthcare assurance settings. Additionally, the offering reduces the number of alerts for security analysts and correctly identifies and elevates true threats to patient data and healthcare delivery. The infusion of funds will support the expansion of Blackwell’s offering, including capabilities such as their healthcare threat intelligence and automated response. Click here if you’re interested in being an early adopter of Blackwell MHXDR.
Blackwell actively works with design partners, including health systems and General Catalyst’s Health Assurance Network, to test and develop healthcare threat detection and response processes. Together, they’re working to further enhance the capabilities of Blackwell’s MHXDR offering, improve access to high-quality cybersecurity for healthcare companies, and further the company’s mission to improve security posture across the healthcare industry as a whole.
As part of today’s announcement, Blackwell has appointed cyber security expert and business leader Geyer Jones as their first Chief Executive Officer. Jones has a proven track record of scaling operations, driving growth, and executing successful go-to-market strategies. Most notably he served as Chief Operating Officer of Cylera, a healthcare IoT cybersecurity company, and also as Chief Strategy Officer at RSA. Jones will be joining the founders Jaclyn Miller, President and COO, and Jason Lee, CIO, along with decades of team expertise and deep knowledge of healthcare’s security needs.
“It's a privilege to join Blackwell Security and collaborate with General Catalyst and Rally Ventures in tackling the significant challenges of healthcare cybersecurity,” said Jones. “From navigating intricate regulations, to managing vendor risks and integrating legacy systems, our path ahead is clear but challenging. Blackwell's acknowledgment of these realities highlights the importance of our innovative Pulse platform, crafted by Jaclyn, Jason, and their teams. Together, alongside our healthcare practitioners, we’re able to confront these issues head-on. I eagerly anticipate leading Blackwell through its next phase of growth, ensuring continued innovation and the safeguarding of healthcare cybersecurity.”
For more information on Blackwell's MHXDR offering and unique suite of cybersecurity solutions, visit: https://blackwellsecurity.com/services/mhxdr/.
About Blackwell Security
Founded in 2023, Blackwell Security, Inc. is a transformative, healthcare-focused, managed extended detection and response provider. No required “rip and replace”. Optimize your existing tools and minimize operational disruption with Blackwell’s manage-in-place model that maximizes your existing investments. Blackwell aligns tactical security efforts with essential frameworks such as the Health Industry Cybersecurity Practices (HICP) and the 405(d) program to serve community-based organizations, health assurance companies, and health plans. Modern technology is at the core of the model, with purpose-built integrations to extend healthcare security operations and prevent disruption from cyber attack. For more information, visit blackwellsecurity.com.
About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, London, Berlin and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For more: www.generalcatalyst.com.
About Rally Ventures
Rally Ventures invests exclusively in early-stage business technology companies, focusing on entrepreneurs creating major new markets or bringing transformative approaches to existing ones. Since 1997, Rally Ventures' partners and venture capital industry veterans have invested in or run early stage enterprise business-to-business technology companies with a proven ability to deliver superior returns regardless of the overall market environment. For more information visit rallyventures.com.
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