July 19, 2017
Protenus, a Baltimore health care security company, has raised another $3 million to continue growth, in an extension of its $4 million Series A round.
The round was led by Kaiser Permanente Ventures, with participation from F-Prime Capital Partners and existing investor LionBird Venture Partners. The first leg of the Series A closed February last year. The new funds will be used to “keep up with growing customer demand,” said CEO Nick Culbertson.
Protenus, founded in 2014, specializes in protecting private patient data and medical records from cybersecurity breaches. The company is capitalizing on a health care market that is rapidly transitioning to all-digital record keeping. But with greater digital integration, comes greater vulnerability. In 2016, over 27 million patient records were breached, according to Protenus.
Since last year, Culbertson said the company has brought on several new customers and wants to keep its staff growing at scale with customer interest. Protenus has about 30 employees and plans to grow to about 40 by the end of the year, he said.