BOSTON–(COMMERCIAL THREAD) –Tausight announced today that it has raised $ 20 million in Series A funding to help solve one of the most difficult responsibilities of healthcare CIOs and CISOs: ensuring the confidentiality, integrity and availability of healthcare information protected (PHI) patients. The tour de table was co-led by existing investors Polaris Partners and Flare Capital Partners, alongside a new investor .406 Companies.
Founded by David Ting, co-founder and former CTO of Imprivata and former member of the United States Health and Human Services Cyber Security Working Group, Tausight will help CIOs, CISOs and their IT organizations better secure clinical workflows as clinicians access and use RPS. The company will use the funding to expand its go-to-market team and further develop its healthcare-specific solution to expose hidden vulnerabilities in clinical workflows that can put patient data at risk.
“As attacks on industry accelerate and healthcare becomes decentralized, Tausight is taking a unique approach to protect clinical workflows involving PHRs to improve patient safety,” said David Ting , founder and technical director of Tausight. “By analyzing in real time how patient data is stored, used and transmitted in clinical environments, healthcare organizations are better able to proactively address vulnerabilities that could lead to a potential costly cyber incident. ”
As healthcare providers embrace digital transformation, virtual care, and cloud-driven strategies, the underlying IT infrastructure is increasingly decentralized, creating many other gaps that can lead to increased risk for private health insurance. Tausight’s mission is to help healthcare CIOs and CISOs understand in real time the risks inherent in the way PSRs are used so that threats can be eliminated.
“Existing cybersecurity solutions address critical aspects of securing the healthcare IT system, but do not adequately address the hidden vulnerabilities found in clinical workflows. Tausight was created to fill this gap and solve this vital problem, ”added Dave Dickinson, CEO of Tausight.
For more information on Tausight and the Hidden Vulnerabilities in Clinical Workflows, please visit www.tausight.com.
Quotes in support of investors
“Despite the significant investments by healthcare providers in cybersecurity solutions, PHIs continue to be exposed to record rates,” said Dave Barrett, Managing Partner, Polaris Partners. “There is a significant and critical market need for CIOs and CISOs to find the data of at-risk patients and preventively protect their institutions and patient populations. We are delighted to partner with Tausight since its inception to seize this fascinating opportunity.
“Healthcare organizations are at a disadvantage in the race to protect patient data from malicious cyber attacks and accidental breaches,” said Bill Geary, co-founder and general partner of Flare Capital Partners. “The rapid decentralization of healthcare with more remote workers and a growing reliance on cloud applications have created significant vulnerabilities for PHI. Tausight’s hyper-focus on solving the unique challenges healthcare organizations face will usher in a new paradigm for how patient data is protected.
“We have known and admired David Ting for years and have followed him closely after he founded Tausight and raised a fundraiser with investors we respect. Tausight fits perfectly with our strategy as it sits at the intersection of cybersecurity and digital health – two fundamental verticals on which we have built our foundations since starting the company, ”said Greg Dracon, partner, .406 Ventures. “By focusing on how PHIs move and become vulnerable throughout the clinical workflow, Tausight disrupts the status quo by creating a solution focused on the unique challenges facing the healthcare industry. We believe Tausight has the team and the technology to create long-term value for its healthcare customers and partners. ”
Tausight’s mission is to solve one of the most difficult responsibilities of healthcare CIOs, CIOs and their IT organizations: ensuring the confidentiality, integrity and availability of patient RPS. Please visit us at www.tausight.com and follow us on LinkedIn and Twitter.
About Polaris Partners
Polaris Partners has a history of over 20 years of partnering with regular entrepreneurs and world-class innovators who improve the way we live and work. The multibillion-dollar company manages specialized and diversified funds in healthcare and technology with investments at all stages. Polaris has offices in Boston, San Francisco and New York. Learn more about polarispartners.com.
About Flare Capital Partners
Flare Capital Partners strives to help build leading health technology, digital health and health services companies to improve health outcomes and expand access while lowering costs for healthcare professionals. care. We work in partnership with inspiring entrepreneurs who seek to transform the healthcare industry by developing innovative and impactful products and services. Flare Capital is a team of proven health technology investors and senior operating executives known for their thought leadership and unprecedented strategic industry resources. Our company has raised some of the largest dedicated venture capital funds in the industry focused on early stage opportunities in healthcare technology innovation, and our investors include leading healthcare companies, investors major institutions, major family offices, foundations and sovereign wealth funds. We are investors over the full lifecycle of our portfolio companies, as we support and work alongside entrepreneurs throughout their business creation journey. Some portfolio companies include Aetion, Aspen RxHealth, Luminous heather, Coher Health, Eden Health, Health Truth, Iora Health, Somatus, Tausight and VisitPay. Learn more about Flare Capital Partners and follow us on Twitter @flarecapital.
About companies .406
.406 Ventures is a Boston-based startup venture capital firm investing in digital health and enterprise technology companies founded by visionary entrepreneurs. The company was founded in 2005 and manages over $ 1 billion in four main funds and two opportunity funds. The team is made up of entrepreneurs and operators who have become investors to apply real world experience and strong business creation skills to create value for entrepreneurs and LPs. The company typically leads or co-leads early stage investment rounds in changing companies and world-class operators, who grow rapidly and embody the successful entrepreneurial DNA with their passion, creativity and stamina. Learn more about 406ventures.com.