The startup Darktrace, which is engaged in machine learning and cyber security, has raised fifty million dollars in an investment round. That would make the company worth $1.65 billion. The money will be used to further develop Darktrace’s product and to bring about international expansion.
Darktrace was founded in 2013. The company calls itself the leader in corporate immune system technology and, above all, offers a cybersecurity product that addresses advanced threats through a machine learning platform. That platform was developed at the University of Cambridge. Investors include KKR and 1011 Ventures.
Market race: self-learning product
Darktrace distinguishes itself from others in the security market by basing its platform on the biological principles of the human immune system. The platform learns the normal pattern of an organization, its users and devices. This allows the platform to quickly see if there is a leak or if a cyber attack is taking place.
According to CEO Nicole Eagan, the system can be rolled out in less than an hour. No human configuration or training is required. As soon as it’s rolled out, it starts learning what’s normal for a network. It identifies real threats and anomalies within just seven days.
State of the company
At an earlier investment round in July 2017, Darktrace already raised 75 million dollars. The company claims that it has since added 7,000 new networks to its service. In addition, the number of employees has increased by sixty percent to more than 750 worldwide. It also opened eight more offices this year, including in Los Angeles, Mexico City and SÃ£o Paolo. It’s still problematic to make a profit. During the recent expansion of Darktrace, the loss would have doubled to 36.2 million dollars.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.