Cambridge cyber defence spin-out Darktrace secures $18m from Invoke Capital and others.
Darktrace, a cyber defence spin-out of Cambridge University, has secured $18m to fuel its global expansion.
Invoke Capital, the $1bn investment vehicle established by Autonomy founder Mike Lynch, participated in the round, along with Talis Capital, Hoxton Ventures, and unnamed individuals. Following the round, Darktrace is now valued at $80m.
Darktrace was the first investment for Invoke back in 2013, where it raised a sum somewhere between $10m and $20m shortly after both the firm and the fund were founded.
Utilising machine learning technology from Cambridge, Darktrace is developing an early-stage detection model to counteract cyber threats. Darktrace has already attracted several clients, including telecommunications firm BT and Virgin Trains, and is now targeting the Asian market for its expansion.
Nicole Eagan, Darktrace’s CEO, said: “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.”
