Darktrace - an enterprise cyber threat defence software provider - has raised US$65 million in new growth equity financing led by global investment firm KKR.
Other funding participants include existing investor growth equity firm Summit Partners and new investors TenEleven Ventures and SoftBank-affiliated SB ISAT Fund. Darktrace will use the funds to boost the global expansion of its Enterprise Immune System technology.
"Securing the backing of another leading global investor like KKR is an important milestone for Darktrace and a strong validation of the technology we have developed. We chose to partner with KKR because of their unique global network to support our international expansion and rich history of enterprise building in the technology sector," said Nicole Eagan, CEO of Darktrace.
"In addition to KKR, we are excited to work with our new investors TenEleven Ventures and SoftBank who will contribute significant strategic value and knowledge to our team. We are also pleased to have the continued support of Summit Partners, who have been of tremendous help to us since their initial investment. With such a group of world-class investors we have an incredibly strong base to realise our full potential," Eagan continued.
Darktrace uses advanced mathematics and machine learning - based on biological principles of the human immune system - to detect and respond to emerging cyber threats on existing solutions.
"We are highly impressed by the Darktrace team and the uniqueness of the product they have built. Advancements in cyber security is one of KKR's core investment themes and Darktrace has established a strong leadership position in the space due to the differentiation of its product - which can detect threats that other cyber solutions fail to identify. We look forward to supporting Darktrace and think that, together with the other investors, we can help management drive significant value for Darktrace over the coming years," said Stephen Shanley, Principal on KKR's Technology Growth Equity team.
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