Keith Alexander's IronNet nets $32.5 million investment

The Baltimore Sun
Keith Alexander-led IronNet attracts $32.5 million venture capital investment

IronNet Cybersecurity, a Fulton-based cybersecurity firm, raised $32.5 million in a Series A funding round led by a pair of several prominent venture capital firms.

The company was founded in 2014 by CEO Keith Alexander, the former director of the National Security Agency and head of U.S. Cyber Command, with a team of former leaders from the Defense Department, the National Counterterrorism Center, and the Defense Advanced Research Projects Agency. Alexander retired as a four-star Army general in 2014.

IronNet is developing a commercial cybersecurity solution for private-sector firms and will use the new funding to continue working on its technology, which allows real-time visualization of a company's cyber infrastructure and uses behavioral models and analytics to detect and defend against bad actors.

"Criminal syndicates and nation states are inflicting tremendous harm on the private sector, costing hundreds of billions of dollars annually," Alexander said in a statement.

The investment was led by Trident Capital Cybersecurity joined by Kleiner Perkins Caufield & Byers, one of Silicon Valley's leading venture capital firms. A spinoff of Trident Capital, based in Palo Alto, Calif., Trident Capital Cybersecurity recently raised $200 million to invest in firms that space.

Ted Schlein, general partner of Kleiner Perkins, will join IronNet's board of directors, which already includes Don Dixon, founder and managing director of Trident Capital Cybersecurity.

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