Security company Darktrace bags major funding, expands into Asia

Cyber-security outfit Darktrace has announced that it has drummed up some major funding to help fuel growth, and specifically expansion plans for the Asia Pacific market.

Darktrace raised $18 million (£12.1 million) from investors including Invoke Capital, Talis Capital and Hoxton Ventures, with the company now valued at $80 million (£54 million) in total.

Darktrace offers Enterprise Immune System tech to help protect organisations’ networks from cyber-threats of one kind or another, specialising in the early detection of malicious material. The system is based on advanced machine learning and maths developed at Cambridge University, and Darktrace already has high-profile customers including BT and Virgin Trains in the UK.

The security company has just fired up operations in the Asia Pacific area, with Sanjay Aurora at the helm of the expansion in this direction, backed up by John Muser (ex-IBM Security) who will be head honcho in Australia and New Zealand, and Stanley Hsu (ex-McAfee Intel) heading up emerging markets in South East Asia.

Vasile Foca, co-founder of Talis Capital, commented: “Darktrace is an extremely dynamic company and an excellent addition to our digital portfolio. They have created a truly unique Cyber Security product and have already shown impressive sales traction. Indeed there are exciting times ahead and we very much look forward to working with the team.”

Darktrace CEO Nicole Eagan boasted: “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.”