Censinet Announces Record Growth in New Customers, Vendors, Partners, and Product Capabilities in 2022

Record Growth Drove Significant Increases in Annual Recurring Revenue and Network Scale

BOSTON, MA – JANUARY 30, 2023 – Censinet, the leading provider of healthcare risk management solutions, today announced record growth in new customers. During 2022, the Company saw significant growth in customer acquisition, product innovation, industry partnerships, and network growth on Censinet RiskOps^TM its flagship offering.

Key 2022 highlights include:

• Censinet’s Digital Risk Catalog^TM grew to more than 10,000 vendors
• The number of 1-Click Assessments^TM grew 205%
• Healthcare provider Net Revenue Retention (NRR) was 124%
• Customer count increased more than 80% year-over-year
• Annual recurring revenue (ARR) increased more than 90% year-over-year
• $9 million in funding to accelerate healthcare cyber risk management

“Censinet’s mission is to protect patient safety by taking the risk out of healthcare,” said Ed Gaudet, CEO and Founder at Censinet. “Censinet’s strong performance this year speaks to the power of our network to enable providers, payers, and vendors to work together to manage and mitigate cyber risk; and, with the strongest momentum in company history and this shared vision at our backs, we look forward to rapidly scaling our network, our footprint, and our business across 2023.”

Additional 2022 Company highlights include:

• Launched a landmark initiative, The Healthcare Cybersecurity Benchmarking Study, co-sponsored by the American Hospital Association and KLAS Research, to establish and validate robust benchmarks for cybersecurity program KPIs and program coverage of industry recognized security practices such as NIST CSF and HICP.
• Increased participation in the KLAS Research “Cybersecurity Transparent” initiative, which continues to set the standard for cybersecurity preparedness across the healthcare vendor landscape. New and recertified KLAS CT vendors were recognized by Censinet this year at the HLTH 2022 conference and RSNA 2022 Annual Meeting.
• Launched the industry’s first on-demand managed services offering for third party risk management delivered both through Censinet and through channel partners, including Fortified Health Security. Delivered as a platform, managed service, or a hybrid mix of the two, Censinet’s solution provides maximum optionality to healthcare organizations to jumpstart and scale their third party risk management program based on available resources, capacity, and budget.
• Delivered Censinet RiskOps^TM and next-generation product innovation to enable healthcare organizations to transform cyber risk management, including cyber peer benchmarking, enterprise assessments with automated action plans for NIST CSF and HICP, automated risk workflows for NIST Special Publication 800-30, ServiceNow Workflow Connector, and the Censinet Cybersecurity Data Room™.
• Signed a record number of strategic partnerships, including Fortified Health Security, InsiteOne, Clearwater Compliance, Renovo Solutions, and Panda Health to expand adoption of Censinet RiskOps^TM and deliver highly efficient and effective services.

About Censinet

Censinet®, based in Boston, MA, takes the risk out of healthcare with Censinet RiskOps, the industry’s first and only cloud-based risk exchange of healthcare organizations working together to manage and mitigate cyber risk. Purpose-built for healthcare, Censinet RiskOps^TM delivers total automation across all third party and enterprise risk management workflows and best practices. Censinet transforms cyber risk management by leveraging network scale and efficiencies, providing actionable insight, and improving overall operational effectiveness while eliminating risks to patient safety, data, and care delivery. Censinet is an American Hospital Association (AHA) Preferred Cybersecurity Provider. Find out more about Censinet and its RiskOps platform at censinet.com.

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Contacts:

Justyn Thompson
(617) 221-6875

jthompson@censinet.com