New funding: CI Security, a 85-person cybersecurity startup with offices in Seattle, Bremerton, and Ellensburg, Wash., has raised an additional $6.4 million, adding to its $16 million Series B round.
Lead investor: Concord Health Partners, a healthcare-focused firm based in New York City, made an investment as part of the AHA Fund it created in partnership with the American Hospital Association.
Company background: Founded in 2012, CI Security pairs software with analysts who review and investigate attacks. The startup focuses on healthcare and government organizations. The company competes against security and tech giants such as ADT and Cisco Systems. It changed its name from Critical Informatics to CI Security earlier this year. Total funding to date is $22.4 million.
Market opportunity: Companies spent $96 billion on cybersecurity technology in 2018, according to Gartner, yet attacks continue to impact organizations of all kinds.
CEO Perspective: “What we are hearing from our healthcare customers is that they sleep better at night knowing we are bringing down the risk of a high-impact breach,” CI Security CEO Garrett Silver said in a statement. “We’re proud of the investment and trust we’re getting from Concord Health Partners. We appreciate that they will help us dive even deeper into healthcare and enhance our support of patient-focused organizations.”
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