Cybersecurity developer IronNet secures loan and enhances tech

Cybersecurity developer IronNet secures loan and enhances tech

IronNet, which claims to transform cybersecurity through collective defence, has launched enhanced capabilities of its platform and secured a $2m loan.

The loan was supplied by an affiliated fund of existing stockholder C5 Capital Limited. Terms of the loan are similar to loans from IronNet’s directors and another lender in the aggregate principal amount of $6.9m, which were announced in December 2022.

This loan from C5 has an annual rate of 13.8% and a maturity date of June 30 2023. The promissory note issued to C5 is secured by substantially all of the assets of the company, excluding the company’s intellectual property.

As for the enhanced capabilities, IronNet has bolstered its network detection and response solution.

Its IronDefense solution offers advanced and early visibility of unknown cyber threats that slip past endpoint and firewall detection and enter the network, either on-premises or in the cloud.

With the new updates, security operations centre analysts can leverage IronDefense to detect VPN abuse, such as high failed logins, password spray, and suspicious login times. These incidents can be signs of a brute force attack or unauthorised access attempt.

Analytics updates also enable detection of ongoing patterns of both fixed-interval and randomised-timing beacon activity, as well as the detection of DNS tunnels using advanced encoding techniques being leveraged by attackers.

The team has not only enhanced the capabilities, but its user interface. New sensors can now be auto-commissioned and auto-upgraded without requiring interaction from the SOC staff.

From an ecosystem perspective, IronDefense now enables customers using SentinelOne endpoint detection and response to create and update network inventory as well as isolate a device in a SentinelOne-deployed network remotely from the Entity page in the IronDefense user interface. A similar capability exists for CarbonBlack and Crowdstrike endpoints.

Speaking on the latest developments, IronNet vice president of product management Raj Sivasankar said, “We strive always to integrate best-in-class behavioural analytics to stay ahead of ever-changing tactics, techniques, and procedures (TTP) used by both nation-state adversaries and cyber-criminal organisations. Our goal is to deliver enhanced, broad, and early visibility of threats on enterprise networks–well before business impact.”

In other cybersecurity news, VMRay, an advanced threat detection and analysis firm, raised $34m in a Series B led by Tikehau Capital in late 2022. 

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.