PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Dartrace completes USD22.5m Series B financing with Summit Partners

Darktrace has completed a USD22.5 million Series B with Summit Partners, a global growth equity investor. The round completes an exceptional growth year for Darktrace, with Talis Capital extending the Series A they led in March 2015, with a further USD1.8m prior to the Series B round.

Darktrace’s Enterprise Immune System represents a new class of cyber defence 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 analyses network activity and learns the behaviour of every device, user and network within an organisation in order to detect abnormal threat behaviours 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.

Vasile Foca, director and co-founder of Talis Capital commented, “Darktrace has made exceptional progress since the Series A round we led in March. We are pleased to welcome Summit Partners as a key shareholder in the next exciting stage of growth for Darktrace.”
 
Matus Maar, director and co-founder of Talis Capital says: “the outstanding team at Darktrace are successfully delivering a technology that counters the ever-increasing volume of cyber threats. We are delighted that Summit Partners have followed us with this important Series B round for Darktrace.”
 
“We are delighted to be working with Talis Capital and Summit Partners, an investor with deep experience in the security sector, as we continue to rapidly grow our business,” said Nicole Eagan, CEO of Darktrace. “This is yet another validation of our machine-learning and mathematics approach, and will enable us to maintain a fast pace of innovation, and pursue our vision of bringing the Enterprise Immune System to the heart of cyber defence strategies today.”
 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured