Health systems managed detection and response startup Scope Security today announced it has raised $ 20 million in new funding to develop its cybersecurity solutions designed to address the complexity of the healthcare ecosystem.
Thrive Capital led the Series A round, with SV Angel, Martin Ventures, Sound Ventures, Crossbeam and Free Solo also participating. Including the new funding, Scope has raised $ 37.7 million to date, according to data from Crunchbase.
Founded in 2019 by former Lookout Inc. Chief Security Officer Mike Murray, Scope offers an MDR service that protects hospitals, clinics and large provider systems from cyberattacks. The company offers a custom-built integrated technology and service platform designed to detect complex attacks that healthcare organizations face across their entire technology landscape.
The platform enables customers to detect complex attacks in real time and to close the visibility gaps health systems have with previously unmonitored medical devices, clinical technologies and electronic health records. The solution can be deployed as a complete, systemwide detection and response solution or as a point solution focused on the visibility gaps teams currently have with their medical devices.
Scope’s platform is a solution dealing with a significant issue: cyberattacks against healthcare providers. According to the company, a recent study found 70% of hospitals had experienced a “significant security incident” within the past 12 months. The disruption from these attacks has significant near-term and long-term costs to institutions’ financial health and their patients.
Added to the mix, the COVID-19 pandemic has accelerated investment in digital innovation like remote patient monitoring and telehealth, creating new security vulnerabilities. Scope says health system leadership must consider their security infrastructure holistically and invest in a proactive strategy that supports new care delivery mechanisms while ensuring patient safety, data privacy and the continuity of care.
“The past few years have seen attacks on health systems costing millions of dollars, breach millions of records and cause harm to patients,” Murray explained in a statement. “We started Scope Security to address the unique challenges of healthcare delivery, to offer the same caliber of security that has long been available to financial services, industrialists and government organizations.”