UK Cyber Security Biz Darktrace Wins $18m to Tap APAC

UK threat defense firm Darktrace, backed by Autonomy co-founder Mike Lynch, has secured another $18m from investors in a move which it says will help it expand into Asia Pacific.

The self-titled “leader in Enterprise Immune System technology” said investors include Invoke Capital, Talis Capital, Hoxton Ventures and private individuals – with the latest round of funding valuing the firm at an impressive $80m.

The company is on an impressive growth path, having deployed technology to its first customer barely a year ago, according to CEO Nicole Egan.

The firm has now sold into 75 companies and has 50 partners in North America, Europe and the Middle East, with the headcount tripling over the past year, she added.

The latest boost to Darktrace’s coffers will allow for greater expansion into Asia Pacific from its new base in Singapore.

“Cyber security is a global challenge for organizations worldwide and is top-of-mind for boards of directors and chief information security officers (CISOs) in Asia Pacific,” said APAC managing director, Sanjay Aurora, in a statement.

“Singapore is leading the way within the region and has recently announced the creation of a new ministerial position and central agency dedicated to cyber security so the timing for Darktrace in Asia Pacific is just right.”

Founded in 2013 by ex-staffers from the UK’s intelligence agencies, Darktrace draws on machine learning and mathematical techniques developed at the University of Cambridge to analyze devices, networks and users to detect previously unknown threats.

The development of machine learning has been close to Autonomy co-founder Lynch’s heart for many years so it’s perhaps not surprising that his venture firm Invoke Capital has backed Darktrace.

The firm’s advisory board also boasts an impressive roster, with former MI5 director general Lord Evans and former GCHQ deputy director for cyber defense operations Andrew France sitting alongside Lynch.

Earlier this month Darktrace announced another big name customer as BT revealed a new partnership which will see the Enterprise Immune System integrated into its security portfolio.

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