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Darktrace receives $18m funding for global expansion

Company to expand into Asia Pacific.

By CBR Staff Writer

UK-based cyber threat defence company, Darktrace, has received $18m in a round of funding which has surged the value of the company to $80m.

The British company is expected to use the funding to expand its services on a global level. As part of its expansion plans the company have also announced the opening of operations in Asia Pacific.

The investors of the latest round of funding include Invoke Capital, Talis Capital, and Hoxton Ventures, along with other private individuals.

Darktrace provides Enterprise Immune System technology to organisations for protection against advanced cyber threats within their networks.

The company claims to have created new models based on early-stage detection of cyber threats that are capable of bypassing traditional controls.

Darktrace CEO Nicole Eagan said: "Darktrace is growing at a phenomenal rate. It has been barely a year since we deployed to our first customer and now we have deployments at 75 companies and relationships with 50 partners across America, UK, continental Europe and the Middle East.

"Our headcount has tripled over the past year and expansion into Asia is a natural next step."

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Its customers include BT, Virgin Trains and Drax.

The company uses advanced machine learning and mathematics developed at the University of Cambridge to analyse the behavior of every device, user and network within an organisation.

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