Darktrace Moves Towards A Massive IPO

The British cyber security global leader Darktrace is working towards an IPO next year after growing its market capitalisation to more than $2 billion. Darktrace has grown impressively and consistently under the dual transatlantic CEO leaership of Poppy Gustafsson in Cambridge, England and Nicole Eagan in the US.

Analysists say that if not for the coronavirus, Darktrace would have already launched its IPO. Management are thought to be keen to proceed with the IPO sooner rather than later and are just waiting for a window of opportunity. 

The company applies artificial intelligence and machine learning to spot cyber-threat patterns at early stages, and defend against them in the process. Its cyber-solution seems to be doing really well, with $500 million in contracts secured by the company to date

The company has grown revenues in a very successful past year and has so far raised around $250 million and now employs around 1,000 people globally. The number of customers using Darktrace’s AI email solution, Antigena Email, has doubled since January 2020, while the number of requests to trial Antigena Email has quadrupled since the lockdown began in early March.

Darktrace was founded in 2013 by mathematicians from the University of Cambridge alongside cyber intelligence experts in the US and the UK. 

The company applies artificial intelligence and machine learning to spot cyber-threat patterns at early stages, and defend against them in the process. Its cyber-solution seems to be doing really well, with $500 million in contracts secured by the company so far, according to its website.

Darktrace revealed that in the month of April 60%   of all advanced spear-phishing attacks blocked by its Antigena Email service, either related to COVID-19 or aimed to trick employees by referencing remote working. 

Attackers are exploiting concerns about the virus to convince people to open emails and click on malicious links in a trend called ‘fearware’, using over 130,000 newly-created email domains related to coronavirus to bypass standard spam filters.
Antigena Email’s ability to distinguish malicious emails from legitimate business communications, and stop those emails from ever reaching the employee’s inbox, has never been more critical. 

Powered by cyber AI, the technology works by forming an evolving understanding of ‘normal activity’ for corporate email environments and the individual users within them.

This enables it to detect incoming novel and targeted attacks that traditional tools let through, including domain spoofing, supply chain account takeovers, and impersonation attempts.Darktrace has stopped numerous instances of ‘fearware’ across its customer base, including attackers posing as the Center for Disease Control (CDC) and World Health Organisation and, more recently, attackers spoofing company email addresses to deliver false corporate updates. 

Mike Lynch, the Cambridge technology entrepreneur, has backed Darktrace since inception and the Invoke Capital fund he founded also has high hopes for stablemate Luminance which is massively commercialising its AI platform for the legal profession. The feeling within Invoke is that lawyers will have to work overtime when the initial phase of the COVID-19 crisis is over and a lot of interest has already been expressed by global law firms as to how Luminance’s AI expertise can help with a projected surge in workload.

Darktrace has grown rapidly to join an exceptional group of cyber security technology vendors with market valuations in excess of $1 billion - termed 'Unicorns' by the investment industry. 

EquityZen:        The Techie:        Business Weekly:  

You Might Aso Read:

UK Cybersecurity Firm Sophos Is Trouncing Silicon Valley:

 

« Solutions For Smarter Cities
Iran Fingered For Attack On Israeli Water Infrastructure »

Perimeter 81

Directory of Suppliers

Cylance Smart Antivirus

Cylance Smart Antivirus

An antivirus that works smarter, not harder, from BlackBerry. Lightweight, non-intrusive protection powered by artificial intelligence. BUY NOW - LIMITED DISCOUNT OFFER.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

Perimeter 81

Perimeter 81

Perimeter 81 is a Zero Trust Network as a Service designed to simplify secure network, cloud and application access for the modern and distributed workforce.

Cyber Security Supplier Directory

Cyber Security Supplier Directory

Free Access: Cyber Security Supplier Directory listing 5,000+ specialist service providers.

eBook: Practical Guide to Security in the AWS Cloud

eBook: Practical Guide to Security in the AWS Cloud

AWS Marketplace would like to present you with a digital copy of the new book, Practical Guide to Security in the AWS Cloud, by the SANS Institute.

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

DigitalStakeout

DigitalStakeout

A simple and cost-effective solution to monitor, investigate and analyze data from the web, social media and cyber sources to identify threats and make better security decisions.

Logicalis

Logicalis

Logicalis are a leading provider of global IT solutions and managed services.

Agenci

Agenci

Agenci are specialists in cyber security and information security and deliver ISO 27001 Certification.

CSIRT Malta

CSIRT Malta

CSIRT Malta supports critical infrastructure organisations in Malta on how to protect their information infrastructure assets and systems from cyber threats and incidents.

Smarttech247

Smarttech247

Smarttech247 deliver a range of cyber security solutions, including cognitive security services using IBM Watson for Cybersecurity, SIEM, Compliance & Governance, and Penetration Testing.

IUCC Cyber Unit

IUCC Cyber Unit

IUCC Cyber Unit safeguards Israel’s National Research & Education Network (NREN).

Keepnet Labs

Keepnet Labs

Keepnet Labs is a phishing defence platform that provides a holistic approach to people, processes and technology to reduce breaches and data loss and presents anti-phishing solutions.

Operational Technology Cyber Security Alliance (OTCSA)

Operational Technology Cyber Security Alliance (OTCSA)

The Operational Technology Cyber Security Alliance was founded to provide OT operators and suppliers with resources and guidance to mitigate their cyber risk in a fast-evolving world.

Security Innovation Network (SINET)

Security Innovation Network (SINET)

SINET is dedicated to building a cohesive, worldwide Cybersecurity community with the goal of accelerating innovation through collaboration.

SecureLogix

SecureLogix

SecureLogix deliver a unified voice network security and call verification solution. Protect against call attacks & fraud.

CyGlass

CyGlass

CyGlass simply and effectively identifies, detects, and responds to threats to your network without requiring any additional hardware, software, or people.