Vitruvian leads $50m series-E for Darktrace

Other participants in the round included existing investors KKR and TenEleven Ventures. The latest funding will be used to drive international expansion and development.

The company has opened eight new offices in the past year, including in Los Angeles, Mexico City and São Paulo, as well as growing its Asian headquarters in Singapore and expanding its R&D centre in Cambridge.

Previous funding
Invoke Capital invested in Darktrace in September 2013. In 2015, the business then received two further rounds of funding, with Hoxton Ventures leading an $18m round in March and Summit providing $22.5m of series-B funding four months later.

KKR then led a $65m funding round for Darktrace in 2016, with existing backers Summit also taking part in the round, alongside new backer TenEleven and Japanese strategic investor SoftBank.

Insight Venture Partners led a $75m series-D funding round for Darktrace in 2017. Existing investors Summit Partners, KKR and TenEleven also took part in the funding round.

Company
Headquartered in both San Francisco and London, Darktrace is a cybersecurity business founded in 2013. Its products are used by financial companies, telecommunications providers, media firms, retailers, healthcare providers, government agencies and national infrastructure facilities to combat and respond to cyberattacks.

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. It employs a staff of 750.

People
Vitruvian Partners – Sophie Bower-Straziota (managing director).
1011 Ventures – Alex Doll (founder).
KKR – Stephen Shanley (director).
Darktrace – Nicole Eagan (CEO).

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