News
Darktrace raises growth equity Summit Partners
July 2015 by Marc Jacob
Darktrace announced that it has raised $22.5 million in Series B funding from Summit Partners, a global growth equity investor that has raised more than $16 billion in capital since inception.
Darktrace’s Enterprise Immune System represents a new class of cyber defense software that helps enterprises and government bodies protect themselves against advanced attacks and data compromises from within the network. Powered by Bayesian mathematics and advanced machine learning developed at the University of Cambridge, Darktrace analyzes network activity and learns the behavior of every device, user and network within an organization in order to detect abnormal threat behaviors as they emerge. Darktrace is currently experiencing exceptional bookings and revenue growth driven by rapid geographical expansion and a significant increase in its customer base.
“Darktrace is reinventing the way organizations protect their data and assets, with a truly differentiated solution developed by some of the leading minds in machine learning and mathematics,” said Antony Clavel, a Vice President with Summit Partners. “Darktrace’s core Enterprise Immune System technology responds to an urgent need for more advanced cyber security, given the volume and complexity of today’s cyber threats.”
“Summit Partners has decades of experience in supporting exceptional new technologies and highly-skilled teams,” added Han Sikkens, a Managing Director with Summit Partners. “We have been impressed by Darktrace’s outstanding leadership team and unique combination of security intelligence, technical and commercial skills. We welcome the opportunity to help accelerate the company’s growth across the world.”
The funding will help Darktrace meet growing international demand, particularly in the United States and Asia Pacific. In addition, Darktrace will continue to scale the business and hire world-class talent for its technology, cyber analyst and commercial teams around the world.
Darktrace serves customers across a range of industry verticals, including leading organizations in the critical infrastructure and financial services sectors and several Fortune 100 corporations. The company was named ‘Best Security Company of the Year’ at the InfoSecurity Global Excellence Awards 2015 and ‘Best Insider Threat Detection Solution’ in the Network Products Guide IT World Awards 2015.
Summit Partners’ previous investments in the cyber security technology sector include Avast, McAfee, NetWitness, Postini, RiskIQ and SafeBoot.
Han Sikkens, a Managing Director at Summit Partners and Vanessa Colomar, Partner at Invoke Capital, have joined the Darktrace Board of Directors.
