Nova Leah gets backing from US health giant to expand cybersecurity reach

7 Dec 2021

Nova Leah founder and CEO Anita Finnegan. Image: Nova Leah

The Irish company received investment from the venture arm of Northwell Health, a New York healthcare provider with 23 hospitals and 830 outpatient facilities.

Medical cybersecurity start-up Nova Leah has closed a round of seed funding as it works to expand its reach to medical device manufacturers and healthcare providers around the world.

The seed round was led by Northwell Holdings and Ventures, the for-profit venture investment arm of New York-based healthcare provider Northwell Health. It also included additional funding from existing investors Kernel Capital and Sure Valley Ventures.

Irish start-up Nova Leah is a spin-out from Dundalk Institute of Technology. Its flagship product, SelectEvidence, is a system designed to continuously assess connected medical devices for cybersecurity vulnerabilities.

The new investment will support the medical cybersecurity start-up as it seeks to expand its global reach. The company said it now supports cybersecurity processes in areas such as medical device development, market approval, monitoring, supply chain, purchasing, deployment and product decommissioning.

Nova Leah was founded by Dr Anita Finnegan, an expert in cybersecurity risk management who spoke to last year after the company received two rounds of Government funding and multiple awards.

Speaking on the latest investment, Finnegan said: “Northwell Health has an outstanding reputation for both market innovation and patient safety. We are excited to collaborate with Northwell Health to apply our product IP to the healthcare delivery market. This investment will have a significant impact on our ability to enter new markets and scale effectively.”

Last month, Northwell Health made a partnership with Enterprise Ireland to spotlight Irish medtech companies and help them break into the US market.

“We are delighted to welcome Northwell Health as investors to Nova Leah,” said Kernal Capital managing partner Niall Olden. “With over 800 hospitals and medical centres in the US, Northwell Health is a strategically important partner. This latest transaction builds upon the significant commercial partnerships that Nova Leah have already established.”

Nova Leah raised €2.25m in funding in 2018 and secured €3.7m with Dundalk Institute of Technology in 2019 to work on two industry projects.

The company was a Start-up of the Week in March 2017. It now has bases in Dundalk and Boston.

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Leigh Mc Gowran is a journalist with Silicon Republic