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Home > News > Company News > Cambridge cyber security firm .....

Cambridge cyber security firm makes commercial breakthrough

  • Author:Ella Cai
  • Release on:2017-07-12
Darktrace, the Cambridge-based cyber-security firm, has raised a $75m Series D financing.

The firm, which was created by mathematicians from the University of Cambridge, is commercially successful with total contracts valued at $200m, an increase of 140% from last year. 

Much of this growth was driven by outstanding performance in the US, where bookings increased threefold. 

Financial backers include Insight Venture Partners, with participation from existing investors Summit Partners, KKR and TenEleven Ventures.
 
Darktrace specialises in AI technology for cyber security, which it says can defend against ever more sophisticated cyber-attacks.
 
The firm’s Enterprise Immune System technology is claimed to be capable of detecting and responding to cyber-threats that evade legacy security controls, “containing incidents before damage is done”, said Darktrace.

The company’s headcount has doubled over the past 12 months, now standing at 500 employees. 

Nicole Eagan, CEO at Darktrace, writes: 

“This marks another critical milestone for the company as we experience unprecedented growth in the U.S. market and are rapidly expanding across Latin America and Asia Pacific in particular, as organizations are increasingly turning to our AI approach to enhance their resilience to cyber-attackers.” 

Darktrace’s Enterprise Immune System, which was a finalist in this year’s MacRobert Award, uses AI algorithms to automatically detect and take action against cyber-threats within all types of networks, including physical, cloud and virtualized networks, as well as IoT and industrial control systems.