Partner Article

Cybersecurity startup attracts massive eight-figure funding round

Darktrace, the enterprise cybersecurity startup, has announced it has raised $65m (approx. £50.4m) in equity financing as it looks to turbocharge its global expansion.

The new funding round in the Cambridge-headquartered firm, which also has an office in London, was led by major London-based investment firm KKR with participation from existing investor Summit Partners, and new investors TenEleven Ventures and SB ISAT Fund.

Darktrace’s innovations include its Enterprise Immune System technology, which adopts sophisticated mathematics and machine learning-based techniques that adapts to the latest threats by mimicking the human immune system.

Commenting on the new investment Nicole Eagan, Chief Executive Officer of Darktrace, said: “Securing the backing of another leading global investor like KKR is an important milestone for Darktrace and a strong validation of the technology we have developed.

“We chose to partner with KKR because of their unique global network to support our international expansion and rich history of enterprise building in the technology sector.

“In addition to KKR, we are excited to work with our new investors TenEleven Ventures and SoftBank who will contribute significant strategic value and knowledge to our team.

“We are also pleased to have the continued support of Summit Partners, who have been of tremendous help to us since their initial investment. With such a group of world-class investors we have an incredibly strong base to realize our full potential.”

Stephen Shanley, Principal on KKR’s Technology Growth Equity team, added: “We are highly impressed by the Darktrace team and the uniqueness of the product they have built.

“Advancements in cyber security is one of KKR’s core investment themes and Darktrace has established a strong leadership position in the space due to the differentiation of its product – which can detect threats that other cyber solutions fail to identify.

“We look forward to supporting Darktrace and think that, together with the other investors, we can help management drive significant value for Darktrace over the coming years.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →