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Technology / Cybersecurity

UK Cybersecurity Unicorn Darktrace Surges $400M in 4 Months to $1.65B Value

A $50 million Series E funding round by Cambridge-headquartered AI cybersecurity specialist Darktrace values it at $1.65 billion – up $400 million in just four months.

Darktrace, which names AIG, London Gatwick Airport and the Science Museum Group among its customers, has now raised a total of $229.5M in funding over 6 rounds.

The Darktrace funding round was led by Vitruvian Partners with participation from existing investors KKR and 1011 Ventures.

Darktrace funding

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Darktrace said it will “play a significant role in keeping up company momentum and international expansion.”

See also: Why Investment in the Cybersecurity Market is Taking Off

In the last year, Darktrace has grown its employee headcount by 60 percent, opened eight new global offices and tripled the size of its Asian HQ in Singapore. It now has 750 employees around the world.

Darktrace Funding Round: “Strong Growth”

Stephen Shanley, Director at KKR, said; “We continue to be impressed by the speed of execution and innovation at Darktrace.  Over the past two years of our partnership,  we have seen Darktrace evolve from a promising startup to a clear leader in the global security market.  We are very happy to be participating in this round and look forward to continuing to support Darktrace moving forward.”

Since its last funding in May (which valued it at $1.25 billion), Darktrace has more than doubled its number of deployments, the company said.

See also: Is it Finally Bromium’s Hour?

“Darktrace continues to enjoy strong growth in new and existing geographies, and is now the most widely used Enterprise AI on the market,” said Darktrace CEO, Nicole Eagan.

She added: “The increase in our valuation in just a few months is testament to the fundamental power of our Enterprise Immune System. As we begin to see real-world attacks leveraging offensive AI, Darktrace will be indispensable in keeping defenders one step ahead.”

The company’s Enterprise Immune System uses machine learning and AI algorithms to detect and respond to cyber-threats across diverse digital environments, including cloud and virtualized networks, IoT and industrial control systems.
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CBR Staff Writer

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