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Cambridge-based Darktrace gets $75m Series D at $825m valuation


Cybersecurity firm Darktrace has raised a $75m (£58m) Series D, reaching a post-money valuation of $825m.

The round was led by Insight Venture Partners and drew participation from existing backers Summit Partners, KKR and TenEleven Ventures.

Nicole Eagan, CEO at Darktrace, commented: “Insight Venture Partners has a proven record of partnering with tech-focused firms, and its backing of Darktrace is another strong validation of the fundamental and differentiated technology that the Enterprise Immune System represents.

“It marks another critical milestone for the company as we experience unprecedented growth in the US 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.”

Founded by mathematicians from the University of Cambridge, Darktrace has developed what it calls ‘Enterprise Immune System Technology’, which leverages AI and machine learning to detect and respond to cyber threats that typically work around legacy security controls.

Jeff Horing, managing director at Insight Venture Partners, said: “In just four years, Darktrace has established itself as a world leader in AI-powered security. Insight is proud to partner with Darktrace to continue to drive its strong growth and superior product market fit.”

Headquartered in Cambridge and San Francisco, Darktrace now has 24 offices across the globe.

Han Sikkens, managing director at Summit Partners, commented: “Darktrace’s Enterprise Immune System technology is providing visibility and security to leading organizations in all sectors. We are delighted to continue to support Darktrace in its next phase of expansion.”

Stephen Shanley, principal at KKR, added: “It’s been a tremendous year for Darktrace and we feel privileged to work with such an innovative, talented and driven team building a remarkable company. We are excited to participate in this financing round and look forward to continuing to support Darktrace in the years to come.”

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