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IronNet Cybersecurity announced a $78 million Series B on May 3, 2018, led by new investor C5 Capital, with existing investors ForgePoint Capital and Kleiner Perkins also participating. The company, founded by former NSA director Gen. Keith Alexander, said it would use the funding to broaden adoption of its cybersecurity products and expand internationally.
Who invested in IronNet’s $78 million round?
SecurityWeek reported that C5 Capital led the Series B, while existing investors ForgePoint Capital and Kleiner Perkins also took part. The announcement brought IronNet’s reported total funding to more than $110 million. The article did not state the company’s valuation or provide other detailed financing terms.
SecurityWeek’s May 3, 2018 report identified IronNet founder Gen. Keith Alexander as a former director of the U.S. National Security Agency and the founding commander of U.S. Cyber Command.
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What did IronNet’s products do?
The 2018 report described two distinct cybersecurity offerings:
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| Product | Role described in the 2018 report | Reported use |
|---|---|---|
| IronDome | A collective-defense system for automated, real-time exchange of threat data and analysis among participating energy companies. | Nearly half a dozen energy providers, with operating subsidiaries spanning more than two dozen states. |
| IronDefense | A behavioral threat detection platform with visibility and risk-prioritization capabilities. | Organizations in the financial and energy sectors. |
IronDome’s emphasis was sharing threat information across participating organizations; IronDefense focused on identifying behavioral threats and helping organizations prioritize risk. These descriptions and deployment figures reflect what SecurityWeek reported in 2018, not current product availability or usage.
How did IronNet say it would use the funding?
IronNet said it planned to use the money to increase product adoption in financial services and healthcare and to expand in Europe, Asia, and the Middle East. Those were announced intentions; the 2018 report does not establish whether the company achieved them.
Alexander said the investment endorsed IronNet’s technology and strategy for defending nations and industries. He added: “We look forward working closely with our new investors joining us in this funding round to continue to rapidly innovate and expand our efforts in this critically important national security arena.” This is the wording reproduced in SecurityWeek’s report.
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The report documents the amount raised, participating investors, product descriptions, reported deployments, and the company’s stated plans at that time. By itself, it does not establish IronNet’s current corporate status, whether the proposed geographic expansion occurred, or the company’s later performance.
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