Risk Management Platform CORL Secures Funding From Primus Capital

The Atlanta-based company will invest in building out its solution to better serve businesses in the healthcare industry.

Written by Ashley Bowden
Published on Jan. 05, 2022
Risk Management Platform CORL Secures Funding From Primus Capital
Photo: CORL Technologies

When it comes to getting the medical treatment a loved one needs, most people will do whatever it takes to ensure it’s delivered as soon as possible. This logic also applies to the healthcare facilities that treat those patients and are willing to pay any price to access the data they need to provide care. Unfortunately, this puts healthcare facilities at high risk for ransomware attacks and other threats. However, CORL Technologies is on a mission to protect healthcare facilities and just pulled in new capital to bulk up its defenses.

As more digital solutions have been adopted over the course of the pandemic, cybercriminals have uncovered more routes to worm their way into businesses’ internal systems, one of which being through third-party vendors. Widely used across the healthcare space, HR vendor Kronos recently experienced an attack on its cloud platform that led to an outage that downed facilities’ online payroll capabilities.  

In the same vein, supply chain attacks have also been on the rise, making security a prime focus for businesses in impacted industries. For healthcare organizations, hacks into their supply chain can threaten patient data and confidentiality, as well as safety and operations, according to CORL.

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Working to provide healthcare vendors with peace of mind, Atlanta-based CORL developed a suite of risk management solutions to provide protection at scale and measure risk reduction. Founded in 2012, the company aims to streamline the monitoring, onboarding and due diligence process for healthcare organizations and their vendors.

CORL announced a strategic investment from Primus Capital on Wednesday that it plans to put toward fueling growth.

“From day one, CORL has measurably reduced risks in the healthcare supply chain through innovative approaches that drive down the time, cost and effort for vendor risk management programs,” Cliff Baker, CORL’s founder and CEO, said in a statement. “This investment is a huge milestone in CORL’s journey. It gives us the resources to invest directly in areas that our customers have told us are important, including our vendor risk technology, data, services and customer support.”

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