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Ex-NSA Director's IronNet Raises $78 Million

IronNet Cybersecurity, a company founded by former NSA director Gen. Keith Alexander, announced on Wednesday that it has raised $78 million in a Series B funding round.

The latest funding round, which brings the total amount of money secured by the firm to over $110 million, was led by new investor C5 Capital, with participation from existing investors ForgePoint Capital and Kleiner Perkins.

IronNet plans on using the newly obtained funds to accelerate its efforts to advance the adoption of its products in the financial and healthcare sectors, and expand internationally in Europe, Asia and the Middle East.

The company announced that its IronDome collective defense system is currently used by nearly half-dozen energy sector providers covering operating subsidiaries across over two dozen states. The product provides automated and real-time sharing of threat data and analysis between participating energy companies.

IronNet’s IronDefense platform offers behavioral threat detection, visibility, and risk prioritization capabilities. The company says this product is currently used by organizations in the financial and energy sectors, including a major custodian bank, a prominent hedge fund, and various energy companies.

“This investment represents a clear endorsement of our core technology and strategy for defending nations and industries around the world,” said Gen. Alexander, who was also the founding commander of the U.S. Cyber Command. “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.”

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.