Darktrace raises $105.5m in a year to repel cyber raiders
Cambridge cyber security business Darktrace is amassing vast amounts of cash and manpower to develop increasingly sophisticated and effective defences against cyber attackers.
The company has now raised $105.5 million in the last 12 calendar months to bolster headcount and technology capability following a new $65m round backed by global big hitters.
CEO Nicole Eagan tells me: “Demand for Darktrace is growing exponentially in every market and this latest funding will help us continue to grow the sales team to meet that international demand.
“There will also be investment in the technology as threats become increasingly sophisticated and based on machine learning themselves.”
The latest growth equity financing is led by KKR, a leading global investment firm, with participation from existing investor Summit Partners and new investors TenEleven Ventures and SoftBank-affiliated SB ISAT Fund.
Darktrace has grown rapidly to 300 employees and has achieved over 600 per cent revenue growth in its latest financial year. With over 1,000 customer deployments, Darktrace’s Enterprise Immune System has been selected by some of the largest and most sensitive cyber security environments, including global financial institutions, telecoms networks, legal firms, retailers, technology companies, government organisations, and critical national infrastructure facilities.
In the space of a month earlier this year the company was crowned Business Weekly’s Disruptive Technology champion and won a Queen’s Award for Enterprise in Innovation.
It has also joined PM David Cameron to deliver a UK masterclass in cyber security to President Obama at the White House and Chancellor George Osborne in a similar sortie to GCHQ when Britain upped its funding for cyber defence.
Darktrace is now one of the world’s leading cyber threat defence companies. Its Enterprise Immune System technology detects and responds to previously unidentified threats, powered by machine learning and mathematics developed by specialists from the University of Cambridge.
Without using rules or signatures, Darktrace can interrogate the ‘pattern of life’ of every device, user and network within an organisation and defend against evolving threats that bypass all other systems.
Darktrace is headquartered in Cambridge UK and San Francisco with global offices including New York, Auckland, London, Milan, Mumbai, Paris, Singapore, Sydney, Tokyo, Toronto and Washington D.C.