Censinet Raises $9 Million in Funding

by Kay Aloha Villamor January 12th, 2023

Censinet, a Boston, MA-based provider of healthcare risk management solutions, announced that it raised $9 million in funding, bringing its total funding to more than $22 million.

The round was led by MemorialCare Innovation Fund, including Rex Health Ventures and Ballad Ventures. Existing investors, including LRVHealth, HLM Venture Partners, Schooner Capital, Excelerate Health Ventures, and Cedars Sinai, also participated in the round.

With this funding, Censinent will continue to invest in sales and marketing, product development, and customer success to rapidly expand its customer base, drive ACV expansion through new product modules and capabilities, and expand its core offering into adjacent markets and verticals.  

“Censinet’s mission is to take the risk out of healthcare,” said Ed Gaudet, CEO, and founder at Censinet. “With the number of breaches escalating and ransomware now a direct threat to patient safety, the need for the healthcare industry to transform cyber risk management has never been more urgent. Censinet’s unique risk exchange enables providers, payers, and vendors to collaboratively manage third-party and enterprise risk, continuously improving risk posture in real-time, and strengthening cybersecurity across all healthcare organizations.”

Purpose-built for healthcare, Censinet RiskOpsTM is the world’s first and only cloud-based, HIPAA-secure risk exchange that enables healthcare organizations to share and manage risk data to strengthen cybersecurity.

Company: Censinet, Inc.

Raised: $9.0M

Round: Unknown

Funding Month: January 2023

Lead Investors: MemorialCare Innovation Fund, Rex Health Ventures, and Ballad Ventures

Additional Investors: LRVHealth, HLM Venture Partners, Schooner Capital, Excelerate Health Ventures, and Cedars Sinai

Company Website: https://www.censinet.com/

Software Category: Risk Management Solutions

About the Company: Censinet is the first SaaS company in healthcare cybersecurity that provides a two-sided network platform for third-party risk assessments. Censinet was built by and for healthcare providers to manage the threats to patient care that exist within an expanding ecosystem of vendors. Censinet helps organizations address risk across their business, including vendors and third parties, patient data, medical records, research and the IRB, medical devices, the supply chain, and more. The company is trusted by many of the leading healthcare organizations to manage risk and smaller regional groups that historically lacked the resources and skills to combat today’s cyber-attacks effectively. 

Source: https://www.censinet.com/censinet-secures-9m-in-new-funding-to-accelerate-third-party-risk-management-in-healthcare/

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