Summit invests $22.5m in Darktrace

The funding will be used to support Darktrace's geographical expansion, predominantly in the US and Asia Pacific. The company will also use the investment to hire staff for its technology, cyber-analysis and commercial teams globally.

Darktrace has previously received investment from former Autonomy boss Mike Lynch.

This deal values the company at $100m.

Summit has several cyber security firms in its portfolio, including Avast, McAfee and RiskIQ.

Company
Darktrace operates a cyber defense software that helps businesses and government bodies protect themselves against attacks and data compromises from within the network.

Darktrace was developed at the University of Cambridge. It uses Bayesian mathematics and advanced machine learning to understand the behaviour of every device, user and network within an organisation in order to detect abnormal threat behaviours as they emerge.

The company's clients include businesses operating in the infrastructure, utilities, telecommunications, manufacturing, retail and financial services sectors.

Darktrace was founded in 2013 and is headquartered in Cambridge and San Francisco, with further offices in London, Paris, Milan, Dallas, New York, Washington, Toronto, Melbourne and Singapore.

People
Antony Clavel is vice-president at Summit and Hann Sikkens is managing director. Nicole Eagan is CEO of Darktrace.

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