Blackwell Security Nets $13 Million in Funding

Blackwell Security has gained $13 million in healthcare cybersecurity reinforcements from two venture capital firms.

Co-led by General Catalyst and Rally Ventures, the money will help Blackwell Security expand its Managed Healthcare Extended Detection and Response (MHXDR) offering, which is designed to secure patient data and defend patient care. The new funding will also be used to broaden the company’s offerings in the U.S. market.
 
“As health system CEOs and physician practice leaders, the past few years have underscored the vital importance of preparation for unforeseen events as a cornerstone for survival and success,” General Catalyst Advisor Stephen K. Klasko, M.D., said. “Anticipating potential challenges is pivotal; what may seem unintended can often be predicted. Cybersecurity and data trust emerge as the next looming ‘pandemic,’ and as a healthcare leader, I perceive Blackwell Security’s approach to safeguarding healthcare organizations as akin to providing the essential ‘PPE’ in readiness for the inevitable threats to system security.”
 
With resilience in healthcare operations gaining paramount importance, urgent action is needed to bolster healthcare cybersecurity initiatives. However, without the proper resources, it’s nearly impossible for healthcare organizations to successfully safeguard patient data, especially with evolving cyber threats and increasing regulatory pressures. Blackwell’s MHXDR offering is designed with these challenges in mind. Equipped with HIPAA compliance, the offering reduces the number of alerts for security analysts and correctly identifies and elevates true threats to patient data and healthcare delivery. The infusion of funds will support the expansion of Blackwell’s offering, including capabilities such as its healthcare threat intelligence and automated response. 
 
Blackwell actively works with design partners, including health systems and General Catalyst’s Health Assurance Network, to test and develop healthcare threat detection and response processes. Together, they’re working to further enhance the capabilities of Blackwell’s MHXDR offering, improve access to high-quality cybersecurity for healthcare companies, and further the company’s mission to improve security posture across the healthcare industry as a whole.
 
As part of the funding announcement, Blackwell has appointed cyber security expert and business leader Geyer Jones as its first CEO. Jones has a proven track record of scaling operations, driving growth, and executing successful go-to-market strategies. Most notably he was chief operating officer of Cylera, a healthcare IoT cybersecurity company, and also as chief strategy officer at RSA. Jones joins the company’s founders—President/Chief Operating Officer Jaclyn Miller and Chief Information Officer Jason Lee.
 
“It’s a privilege to join Blackwell Security and collaborate with General Catalyst and Rally Ventures in tackling the significant challenges of healthcare cybersecurity,” Jones stated. “From navigating intricate regulations, to managing vendor risks and integrating legacy systems, our path ahead is clear but challenging. Blackwell’s acknowledgment of these realities highlights the importance of our Pulse platform, crafted by Jaclyn, Jason, and their teams. Together, alongside our healthcare practitioners, we’re able to confront these issues head-on. I eagerly anticipate leading Blackwell through its next phase of growth, ensuring continued innovation and the safeguarding of healthcare cybersecurity.”
 
Founded last year, Blackwell Security Inc. is a healthcare-focused, managed extended detection and response provider. Blackwell aligns tactical security efforts with essential frameworks such as the Health Industry Cybersecurity Practices (HICP) and the 405(d) program to serve community-based organizations, health assurance companies, and health plans. Modern technology is at the core of the model, with purpose-built integrations to extend healthcare security operations and prevent disruption from cyber attack. 
 
General Catalyst is a venture capital firm that supports corporate founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto (Calif.), New York City, London, Berlin, and Boston, the firm has helped support the growth of businesses such as Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. 

Rally Ventures invests exclusively in early-stage business technology companies, focusing on entrepreneurs creating major new markets or bringing transformative approaches to existing ones. Since 1997, Rally Ventures’ partners and venture capital industry veterans have invested in or run early stage enterprise business-to-business technology companies with a proven ability to deliver superior returns regardless of the overall market environment.