Darktrace, a cybersecurity platform that detects threats in real time using machine learning that adapts and learns over time, has raised $75 million in a series D round of funding led by Insight Venture Partners, with participation from Summit Partners, KKR, and TenEleven Ventures.
The latest raise comes exactly a year after the U.K. outfit announced a $64 million funding round, which included participation from Japanese telecom giant Softbank. Darktrace has raised $180 million in total since its inception, and the company now claims a post-funding valuation of $825 million.
Founded in 2013 by mathematicians from the University of Cambridge, England, Darktrace touts its “enterprise immune system,” which sits on a company’s network to create “unique behavioral models for every user and device.” This in turn enables the platform to leverage artificial intelligence (AI) to identify patterns, spot subtle changes, and thwart cyberattacks before they happen.
Cyber shortage
The global cybersecurity workforce is expected to be short 1.8 million people by 2022, according to some reports, so automation and AI could prove pivotal in helping protect companies — especially when a growing number of attacks are themselves automated.
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Indeed, we will likely see more “machine versus machine” battles in the online security realm, which is why AI-infused cybersecurity technology is ripe for investment. Just last month, Microsoft confirmed it was snapping up Hexadite to bring AI to Windows 10 enterprise security. Other notable companies operating in the space include Cylance, which raised $100 million last year.
Now with headquarters in both Cambridge (U.K.) and San Francisco, Darktrace claims it has 3,000 customers and says over the past year its workforce has doubled to 500 employees working across 24 global offices.
