Asimily Raises $10 Million to Accelerate International Expansion

Funding round further validates record year of revenue and client growth, product innovation and strategic partnerships for IoMT security leader

SUNNYVALE, Calif.--(BUSINESS WIRE)--Asimily, a leading provider of Internet of Medical Things (IoMT) risk management platform, today announced further validation of its strong organic growth and global market strategy as it has secured a 10 million dollar funding round. The round is led by Ridge Ventures, with participation from existing and new investors including Engineering Capital, Inventus Capital, Eileses Capital, New Leaf Venture Partners and others.

The pandemic has accelerated digital transformation in the healthcare industry, and the proliferation of connected medical devices has created an expanded attack surface that puts devices, networks and data at risk. In 2020, ransomware attacks cost healthcare organizations $20.8 billion in downtime, double the amount it cost the year before. This year is no different – driving demand for Asimily’s proven, innovative IoMT risk mitigation platform.

The venture funding round reaffirms momentum Asimily has achieved in 2021 for revenue and client growth, product development, customer service, strategic partnerships, as well as market leadership and expansion. Key highlights year-to-date include:

• Accelerated revenue and client growth. Asimily experienced significant revenue and client growth, securing numerous contracts with small, medium and large Health Systems customers.
• Strengthened leadership team. Asimily continues to attract industry leaders and experts, which included the recent hiring of Priyanka Upendra -- a 15-year veteran of the healthcare technology management space -- to serve as Senior Director of Customer Success.
• Product innovation. In 2021, Asimily launched the industry’s first module to assess the risk of standalone devices and provide out of the box hardening guides. Asimily also added a number of integrations with different Firewall and Network Access Control providers, Configuration Management Systems (CMS) and others.
• Industry recognition. Asimily’s IoMT risk mitigation platform continues to be recognized for its innovation and impact, winning several awards including “Cool Vendor” in Gartner’s IoT Security category, and the Stratus Award from Business Intelligence.

“Our priority has always been to build a strong, organically growing, and cash-flow driven business, and the funding round is a validation of Asimily’s unique ability to out-execute competitors,” said Shankar Somasundaram, CEO, Asimily. “As global health systems go digital and organizations expand their device footprint, the funding is optimally timed to seize new global market opportunities and increase brand awareness for our award-winning IoMT risk mitigation platform.”

For additional information on how Asimily can help your organization secure the mission-critical healthcare devices that deliver safe and reliable care, visit https://www.asimily.com/.

About Asimily

Asimily has built an industry-leading Internet of Medical Things (IoMT) risk management platform that secures medical and the IoT Devices. With the largest knowledge base of IoMT and security protocols, Asimily inventories and classifies every device across the healthcare organization, connected and stand-alone. Asimily identifies and prioritizes vulnerabilities to provide actionable intelligence across the life cycle. Because risk assessment – and threats – are not a static target, Asimily monitors the healthcare organizations’ devices, detects anomalous behavior, and alerts operators to remediate the identified anomalies. With secure medical and IoT devices, healthcare organizations can keep patients, providers, assets, and resources safe and reliable. For more information on Asimily, visit https://www.asimily.com/.

Caitlyn Shen
caitlyn@bluetext.com