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According to Tech – Fortune (This article and its images were originally posted on Tech – Fortune September 27, 2018 at 12:57PM.)
Darktrace, a U.K.-based cybersecurity firm has raised $50 million in a recent round of venture capital funding, putting the five-year-old company’s valuation at $1.65 billion, CNBC reported. Last year the company raised $75 million in funds, which put its valuation at $825 million.
This recent round of funding was led by Vitruvian Partners, and was backed by the company’s existing investors KKR and 1011 Ventures. The funding will go toward furthering Darktrace’s international expansion, according to TechCrunch.
Darktrace announced earlier this month its plans to increase its workforce by 25% and was considering raising funds to do so, Bloomberg reported at the time. “We’ve seen phenomenal growth and quite frankly we’re just trying to keep up with the demand at the moment,” Nicole Eagan, the company’s chief executive officer told the outlet. More recently, Eagan said Darktrace is seeing a lot of growth “in new and existing geographies,” according to TechCrunch.
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