Healthtech cybersecurity platform HEAL Security comes out of stealth with $4.6M

Since its beta launch in July, 33 organizations have adopted the HEAL Security Desktop solution

The healthcare industry is notorious for data leaks: the sector has experienced nearly $7.8 billion in losses due to breaches since 2016 and, in the first quarter of 2023, hospitals and health systems were the number one target of cybersecurity threats. That's due to the large amount of valuable patient information their electronic health records possess: personal healthcare data is valuable to hackers and often includes personal identifiable information and financial information, which can be resold on the dark web.  

This has repercussions for everyone in the industry, from providers to payers to, ultimately, the patients themselves. 

"First, you have the disruption of service delivery, and that ultimately puts patient lives at risk. Years ago, when I was working at a health system, we had to shut down the operating rooms because of a malware attack, and it took four days to get the system back up and running,"  said Charles Aunger, founder and CEO of HEAL Security, a cognitive cybersecurity intelligence platform custom-designed for the healthcare sector, which came out of stealth with $4.6 million on Wednesday. 

"You also have the reputational, regulatory and financial risks to the organization. Leaks result in lawsuits, regulatory inquiries and fines that can amount to millions of dollars."

What HEAL Security offers is real-time, tailored cyber threat intelligence to help health systems proactively safeguard business-critical data, systems, and personnel. Its platform equips healthcare companies with tools to help them navigate the complexities of the digital age, especially relative to the electronic health record, allowing them to ensure the safety and confidentiality of patient data. 

"While there are a lot of cybersecurity startups, there is a gap for intelligence solutions that are situationally aware of the complexities of the healthcare industry," said Aunger.

The company's first product, HEAL Security Desktop, is a dashboard that consolidates data, insights, and assessments of the global healthcare cybersecurity landscape to make it easy for customers to evaluate and take action against cyber threats and risks.

One common use case for HEAL is vulnerability profile management, in which the company works to understand an organization’s vulnerabilities and prioritize them so they know where to deploy assets. It monitors everything from malware attacks to FDA recalls, and tailors the insights so customers can filter out the noise.  Another common use case is compliance: organizations are required to report data leaks to regulatory bodies within a certain time period. If they don’t, they’re considered negligent and subject to fines.

Since its beta launch in July, the HEAL Security Desktop solution has been adopted by 33 organizations, leading to savings of over 208,000 man-hours in vulnerability analysis. 

"This is achieved by reducing the assessment time for each vulnerability from an average of one hour to under five minutes, as demonstrated in our tests, resulting in potential savings for our customers," Aunger said.

Of the new funding round, $2.3 million came from Health2047, a venture studio founded by the American Medical Association, where HEAL was a portfolio company; the other investors in the round were not disclosed. HEAL will use this pre-seed round to support the launch of its minimum viable product and the growth of its team.

Aunger comes from a background in healthcare and tech, having worked with Microsoft, Citrix, Cleveland Clinic, and Stanford Healthcare.

At this point in his career, he wants to make a difference and use technology to deliver impact, he said.

"Personal healthcare data is just that - personal. While cyberattacks are financially detrimental to health systems, there is a far greater impact on patients. I’ve experienced it myself, having had my identity stolen. It was an absolute nightmare. The loss of data and security inherently affects people. We’re looking forward to making a difference in the industry," Aunger said.

"My goal with HEAL is to unify cybersecurity intelligence across organizations and help them drive results and deliver care instead of being reactive to cybersecurity threats. Bad actors who orchestrate attacks are not reactive, they’re proactive. Healthcare needs to be proactive, as well."

(Image source: healsecurity.com)