Healthcare’s first AI Data Security Company fuels market expansion with new capital
Boston, MA — August 15, 2023 —
Tausight®, healthcare’s first AI-powered data security company, today announced it has raised $6 million in additional financing, led by Polaris Capital, with participation from Flare Capital Partners and .406 Ventures. The new capital will fuel expanded market presence and customer growth, as well as continued investment in the company’s patented AI technology designed to protect healthcare’s most sensitive data from cyber attacks.
“This additional funding reflects our continued momentum as we expand Tausight’s AI-based data security platform to more segments of the healthcare ecosystem so the industry can take proactive steps to protect its data from cyber threats,” said David Ting, Tausight’s founder and Chief Technology Officer, and former appointee to the U.S. Department of Health and Human Services Health Care Industry Cybersecurity Task Force.
Earlier this year, Tausight launched its expanded AI-powered PHI Security Intelligence platform, which automates the identification and classification of electronic protected health information (PHI) to enhance the protection of healthcare patients’ most valuable confidential information. The expansion of the Tausight platform will cover more sensitive healthcare data categories allowing the company to solve critical customer use cases and serve new healthcare market segments.
“Tausight already provides Baptist with unmatched visibility and speed for identifying ePHI,” said Aaron Miri, Senior Vice President and Chief Digital Officer and Chief Information Officer, Baptist Health. “As we deploy Tausight to the entire enterprise, we look forward to automating protection of ePHI through the new use cases offered in Tausight’s expanded platform such as integration into our SIEM, EDR and DLP.”
On March 7, President Biden announced his National Cybersecurity Strategy, reflecting the growing awareness of ongoing ransomware attacks and cyber threats facing healthcare and other leading industries. Each data security breach imposes significant reputational and business costs on companies, so fortifying cybersecurity vulnerabilities and protecting against ransomware attacks has become a top business priority.
“Tausight is uniquely approaching the healthcare cybersecurity crisis by reinventing traditional data security through transformative AI,” said Dave Barrett, partner with Polaris Partners. “This new funding shows our confidence that Tausight can help the entire ecosystem – including healthcare providers, payors and 3rd party security solutions – to better identify, detect and protect their most sensitive data.”
Tausight is healthcare’s first AI-powered data security company with a vision of reducing the success of healthcare-specific cybersecurity incidents. Founded in 2018 by healthcare security pioneer David Ting and led by healthcare visionary Frank Nydam, Tausight is backed by top-tier healthcare investors Polaris Partners, Flare Capital Partners, and .406 Ventures, and is based in Boston, Massachusetts. For more information, visit: www.tausight.com and follow us on LinkedIn and Twitter (@Tausight).