Protenus adds $3M to Series A round - Baltimore


Jul. 19, 2017 10:31 am

Protenus adds $3M to Series A round

The new investment led by Kaiser Permanente Ventures brings the round total to $7 million.

Protenus cofounders Nick Culbertson and Robert Lord.

(Photo by LeAnne Matlach)

Updated to include information from cofounder Robert Lord at 12:45 p.m. on 7/19/17.

Healthcare cybersecurity startup Protenus raised $3 million in new funding.

The Series A extension was led by Kaiser Permanente Ventures. Massachusetts-based F-Prime Capital and existing investor LionBird Venture Partners also participated, the company said Wednesday.

“This support from two of the industry’s top institutional investors brings additional industry expertise to our team, and helps us meet the increasing demand for the Protenus platform,” cofounder Robert Lord said in a statement.

Along with funding, Lord said in an interview that Kaiser Permanente Venture’s healthcare expertise and F-Prime’s experience with both health and cybersecurity will help the company. He believes it also helps city’s tech community.

“I think it’s a real win for Baltimore, too,” he Lord said. “We’re bringing in this capital that represents a real acknowledgement of the talent and innovation in the ecosystem.”

Following the $4 million close last year, the company’s Series A is now at $7 million. Lord said the team grew to 30 people since the initial Series A, and they aim to grow to about 40 by the end of the year.

The company is seeing demand, Lord said, so Protenus is looking to expand sales and capabilities of their platform, which helps healthcare institutions protect patient data. Data breaches in healthcare have only increased since the company launched in 2014, and a Protenus analysis states a total of 27 million patient records were breached last year. High-profile attacks like WannaCry have put more focus on how vulnerable patient data can be.

The Protenus platform is mainly focused on insider threats, using artificial intelligence to detect when patient data in electronic health records or other systems are accessed inappropriately.

After meeting in medical school at Johns Hopkins, Lord and cofounder Nick Culbertson launched the company through Dreamit Health Baltimore. The startup moved to offices in the Tack Factory near Little Italy amid growth last year.


Already a member? Sign in here


With new Baltimore space and $5M Series A, Whitebox grows ecommerce tech platform

Minnowtech receives $225K grant to bring imaging platform to shrimp farmers

Gov. Hogan creates CISO position for State of Maryland



Building a data acquisition system? Don’t make this mistake


14 West

Senior Software Engineer (Java + Apache Spark)

Apply Now
Baltimore, MD


Account Executive (Baltimore)

Apply Now
Baltimore, MD 21201

14 West

Junior Database Administrator

Apply Now

A trio of Baltimore institutions are forming partnerships with Baxter International

Congressman: ‘No evidence’ that NSA cyberweapon was used in Baltimore

Protecting passwords: Relatively simple solutions for a big cybersecurity risk



How SmartLogic accelerated these startups’ product growth trajectories


14 West

Senior Java Software Engineer

Apply Now

Sign-up for daily news updates from Baltimore

Do NOT follow this link or you will be banned from the site!