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UK Cybersecurity Firm Darktrace Raises $22.5 Million

UK-based Darktrace, a cybersecurity startup that leverages machine learning and mathematics to detect threats, announced on Wednesday that it has raised $22.5 million in Series B funding from investment firm Summit Partners.

The Company’s flagship “Enterprise Immune System” helps customers protect against advanced attacks and data breaches by leveraging mathematics and machine learning technology developed at the University of Cambridge.

The company explains on its website that its platform “models patterns of life for each user and machine” to detect normal and abnormal behaviors as they emerge, without already knowing what it is looking for, and calculate the probability of threat based on the detection of behavioral anomalies.

Darktrace Logo

According to Darktrace, the new funding will be used to support international demand, particularly in the United States and Asia Pacific, and help scale its business and hire talent globally.

Earlier this year, Darktrace launched a solution designed to detect threats within Industrial Control Systems (ICS).

Unveiled just weeks after announcing that it had raised $18 million in funding in March 2015, the company said that its “Industrial Immune System” leverages Darktrace's machine learning and mathematics in both operational technology (OT) and corporate environments to detect advanced cyber attacks and “subtle” insider threats targeting Industrial Control Systems, including SCADA (supervisory control and data acquisition) devices.

British telecommunications services giant BT also said in March that it was integrating Darktrace's enterprise security platform, which will be added to BT's security portfolio and be available as both part of an integrated security offering or as a point solution within BT's portfolio of managed security services.

Founded in 2013 by senior members of the UK' GCHQ and other intelligence agencies, DarkTrace is headquartered in Cambridge, UK and San Francisco, with offices in Dallas, London, Milan, Melbourne, New York, Paris, Singapore, Toronto and Washington DC.

As part of the Series B investment, Han Sikkens, Managing Director at Summit Partners and Vanessa Colomar, Partner at Invoke Capital, have joined the Darktrace Board of Directors.

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For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.