Business Technology

Tuesday 11 December 2018

Cybersecurity firm Nova Leah receives €2.25m in funding

Nova Leah has developed a cybersecurity compliance solution for medical device manufacturers and healthcare providers. The solution has been designed to improve the security of connected medical devices, improve patient safety and reduce associated regulatory costs. Stock image
Nova Leah has developed a cybersecurity compliance solution for medical device manufacturers and healthcare providers. The solution has been designed to improve the security of connected medical devices, improve patient safety and reduce associated regulatory costs. Stock image

Nova Leah has secured a €2.25m investment from Kernel Capital and Suir Valley Ventures.

The funding round was led by the Bank of Ireland Kernel Capital Growth Fund, with a €1.5m investment.

Nova Leah has developed a cybersecurity compliance solution for medical device manufacturers and healthcare providers. The solution has been designed to improve the security of connected medical devices, improve patient safety and reduce associated regulatory costs.

The Dundalk-based company said that the platform has global deployments with a blue chip customer base.

"We are very excited to be working with Kernel Capital and Suir Valley Ventures," Anita Finnegan, CEO of Nova Leah, said. "This investment milestone will see Nova Leah further expand on its existing success as we strive to become the number one provider of cybersecurity compliance solutions for the connected medical device industry."

The company will use the funding to expand its team, further develop its product roadmap, and build its market presence.

Kernel Capital meanwhile is the manager of the Bank of Ireland Kernel Capital Venture Funds.

This comprises €210m of funds raised through six separate venture capital funds. The funds are supported by Bank of Ireland, Invest NI, Enterprise Ireland, UL founcation, NUIG foundation and New York State common retirement fund.

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