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former IronNet employeesABC News
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82% Informative
IronNet , a cybersecurity startup, had promised it would combat hackers using a unique blend of expertise and software.
Last September the never-profitable company announced it was shutting down and firing its employees after running out of money.
IronNet marketed itself as a kind of private version of the NSA .
Experts, former employees and analysts say the firm collapsed because it engaged in questionable business practices.
Pienaar helped Vekselberg win a share of a South African manganese mine in 2005 .
He also served as one of the oligarch's representatives on the mine’s board of directors until 2018 .
Vekselsberg has been sanctioned twice by the U.S. government, first in April 2018 and again in March 2022 .
In December 2021 , just a few months after going public, IronNet downgraded its annual recurring revenue projections by 60% .
In addition to being a major investor, C5 was also one of IronNet ’s biggest customers.
C5 had signed two multi-year customer contracts with IronNet for $5.2 million , internal C5 records show.
VR Score
83
Informative language
81
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47
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formal
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English
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