Protenus is a Baltimore-based healthcare compliance analytics firm that uses AI-powered analytics to detect unauthorized EMR snooping and narcotic drug diversion. The company provides compliance analytics that give privacy, pharmacy, and compliance teams full insight into how health data is being used and alerts them to inappropriate activity. Protenus says it helps thousands of hospitals reduce risk and scale compliance. The company has been recognized by Forbes, CB Insights, KLAS, Modern Healthcare, the Baltimore Business Journal, the Baltimore Sun, and Gartner. Protenus announced a $21M Series D to accelerate growth and continued product innovation. All existing investors — including Transformation Capital, Providence Ventures, F-Prime Capital, Kaiser Permanente Ventures, Arthur Ventures and Lionbird — were joined by MemorialCare and Gaingels in the round. Protenus provides a healthcare compliance analytics platform that uses artificial intelligence to audit every access to patient records for health systems. The platform proactively identifies risks across organizations, including inappropriate access to patient data and theft or misuse of controlled substances by hospital staff. It alerts privacy, security and compliance teams to inappropriate activity and gives healthcare leaders insight into how data is being used. Protenus says the solution helps partner hospitals make decisions to protect data, patients and institutions. The company was founded in 2014 by Nick Culbertson and Robert Lord and is based in Baltimore, MD. With the new funding, Protenus intends to accelerate sales. Protenus provides a comprehensive health data auditing and privacy monitoring platform that uses artificial intelligence to analyze every single action inside a medical record system. The platform is currently used by top health systems and academic medical centers across the country. The company raised $11M in a Series B to accelerate sales and customer support hiring and to invest in R&D to expand platform capabilities. Protenus was founded in 2014 by CEO Nick Culbertson and is based in Baltimore, MD. Protenus builds AI-driven software to protect patient privacy and prevent health data breaches across hospital electronic health records and associated systems. The platform leverages an array of artificial intelligence techniques to model clinical and administrative workflows and determine the appropriateness of each user action. It identifies anomalous behaviors within a hospital’s EHR and related systems to help ensure trust throughout data systems. The company said it will use the new funding to continue product development, expand product offerings and accelerate sales growth. Protenus is based in Baltimore and was founded in 2014. Senior leaders include President Robert Lord and CEO Nick Culbertson. Protenus develops a cybersecurity product described as an “immune system” for healthcare that detects violations of privacy rules such as HIPAA and prioritizes suspicious access events. The system can be deployed on-premises or in the cloud and sends targeted alerts when records are accessed. Founders Robert Lord and Nick Culbertson met at Johns Hopkins and the team includes data scientists, engineers, and designers who iterated the product through pilots and customer interviews. Early customers and pilots included Johns Hopkins and a pilot at Inova Health System; the company was part of DreamIt Health Baltimore’s 2014 accelerator class. Following a seed round and pilots, Protenus planned to scale sales and marketing and expand headcount from about 14 employees by roughly 10 more hires. The company is based in Baltimore and intends to use its Series A to accelerate growth while remaining opportunistic about hires and product implementation needs.

Total raised

$56M

Funding rounds

5

Latest round

Series D

Latest activity

Jun 2021