Johnson & Johnson Innovation, the venture arm of Johnson & Johnson, participated in the $25 million series B financing round for medical device cybersecurity company MedCrypt.
The company plans to use the capital to expand its engineering team and to scale its cybersecurity technology to different medical devices. The funding round brings the company's total raised to $34.4 million, according to a Nov. 2 MedCrypt news release.
Along with Johnson & Johnson Innovation, Intuitive Ventures, Section 32, Eniac Ventures, Anzu Partners and Dolby Family Ventures participated in the financing.
"With the acceleration of complex medical device ecosystems in hospitals and homes across the United States, and growing expectations of patients, providers and device manufacturers to meet higher standards for security protection, proactive and focused cybersecurity solutions are urgently needed," Managing Director of Intuitive Ventures Oliver Keown, MD, said. "MedCrypt's 'secure by design' product infrastructure will be a critical enabler — and potential standard-setter — for the healthcare industry as stakeholders seek to address the evolving risk profile today."