One of Nation’s Largest Health Insurers Selects IronNet to Increase Network Visibility and Protect Against Cyber Attacks

Rhea-AI Summary

IronNet, Inc. (NYSE: IRNT) announced a multi-year contract with a major U.S. health insurer to implement its Collective Defense platform, aimed at enhancing cybersecurity in the healthcare sector. This collaboration will leverage IronNet's AI-based Network Detection and Response solution, benefiting from real-time attack intelligence across the healthcare community. The insurer, serving over 17 million members, underscores the growing need for robust cybersecurity measures in the healthcare industry due to increasing cyber threats.

Positive

• Secured a multi-year contract with a major U.S. health insurer.
• Contract will expand IronNet's reach within the health insurance industry.
• Implementation of AI-based Network Detection and Response solution enhances cybersecurity capabilities.

Negative

• None.

MCLEAN, Va.--(BUSINESS WIRE)-- IronNet, Inc. (NYSE: IRNT), an innovative leader Transforming Cybersecurity Through Collective Defense^SM, today announced the execution of a multi-year contract with one of the largest U.S. health insurers–which is remaining anonymous to help protect its operational security–to deploy the IronNet Collective Defense^SM platform to help defend against increased cyber threats facing the healthcare sector.

The health insurer has more than 17 million members across the United States and will expand IronNet’s healthcare community and provide opportunities for further growth within the health insurance industry.

“We work hard to provide our members with the most innovative tools to manage their health, and they trust us with their most sensitive information. We can’t take any risks with this data, so we chose IronNet to protect the critical networks millions of individuals rely on,” said the health insurer’s Chief Information Security Officer. “With the IronNet Collective Defense platform, we will benefit from relevant, real-time attack intelligence from across the healthcare community and other verticals like banking and energy. We can work together to strengthen network security and protect our members from cyber attacks.”

“The healthcare industry is becoming a popular target of cyber attacks, and we must enable the effective delivery of patient care while protecting data privacy,” said General (Ret.) Keith Alexander, co-CEO and Founder of IronNet. “That’s why we are proud to partner with one of the largest insurers in the United States to not only defend against attacks on their networks but also strengthen the security posture of the entire healthcare community through our Collective Defense platform. IronNet will deploy our industry leading platform to help defend against evolving cyber threats that the healthcare industry faces daily.”

The health insurer will use IronNet’s leading AI-based Network Detection and Response (NDR) solution as part of the Collective Defense platform to better detect and defend against cyber attacks. The security platform will enable the health insurer to leverage NDR capabilities, powered by behavioral analytics, to detect unknown threats on its network and, in turn, anonymously in real-time exchange visibility with others in the Collective Defense community.

The IronNet Collective Defense platform is the only solution that can identify anomalous behaviors and deliver actionable attack intelligence to all the other participants in the IronNet community. It serves as an early warning system for all participating companies and organizations, strengthening network security through correlated alerts, automated triage, and extended hunt support.

About IronNet, Inc.
Founded in 2014 by GEN (Ret.) Keith Alexander, IronNet, Inc. (NYSE: IRNT) is a global cybersecurity leader that is transforming how organizations secure their networks by delivering the first-ever Collective Defense platform operating at scale. Employing a number of former NSA cybersecurity operators with offensive and defensive cyber experience, IronNet integrates deep tradecraft knowledge into its industry-leading products to solve the most challenging cyber problems facing the world today.

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding IronNet’s ability to strengthen the security profiles of its customers and partners and to increase demand for its products and services. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside IronNet’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: IronNet’s inability to recognize the anticipated benefits of collaborations with IronNet’s partners and customers; IronNet’s ability to execute on its plans to develop and market new products and the timing of these development programs; the rate and degree of market acceptance of IronNet’s products; the success of other competing technologies that may become available; IronNet’s ability to identify and integrate acquisitions; the performance of IronNet’s products; potential litigation involving IronNet; and general economic and market conditions impacting demand for IronNet’s products. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” in IronNet’s Annual Report on Form 10-K for the year ended January 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on May 2, 2022 and other documents that IronNet files with the SEC from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IronNet does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220706005246/en/

Investor Contact: Nancy Fazioli – IR@ironnet.com

Media Contact: Bridget Bell – Media@ironnet.com

Source: IronNet, Inc.

FAQ

What is IronNet's recent contract announcement about?

IronNet announced a multi-year contract to deploy its Collective Defense platform with a major U.S. health insurer.

How many members does the health insurer serve?

The health insurer serves more than 17 million members.

What cybersecurity solutions will IronNet provide?

IronNet will provide its AI-based Network Detection and Response solution as part of the Collective Defense platform.

Why is cybersecurity important for the healthcare sector?

The healthcare sector is increasingly targeted by cyber attacks, necessitating robust defenses to protect sensitive data.

How does IronNet's Collective Defense platform work?

It provides real-time attack intelligence and enhances network security by identifying anomalous behaviors and correlating alerts.