Darktrace Reports 600% Revenue Increase as Global Growth Continues
Darktrace, the leader in Enterprise Immune System technology, today announced that its revenue grew 600% in the last fiscal year, with bookings up 240%, reflecting the huge demand for its unique approach to cyber defense. The company’s employee headcount now stands at 300, with offices in over 20 locations around the world. Darktrace recently received $65 million from investors, including KKR, Summit Partners, Softbank and Samsung, and is now valued at over $400 million.
Based on advanced mathematics and machine learning developed by specialists from the University of Cambridge, Darktrace’s Enterprise Immune System has so far detected over 16,000 serious cyber incidents within customer networks, allowing them to get ahead of potential risk.
“The cyber security reality is that traditional products exhaust themselves looking for preconceived notions of attack behavior and still miss modern threats,” says Eric Ogren senior security analyst with 451 Research. “What makes the Enterprise Immune System attractive is its ability to apply unsupervised machine learning to continuously refine its judgment of normal or dangerous behaviors.”
“We are delighted to report such phenomenal growth results just three years since Darktrace’s launch,” said Nicole Eagan, CEO at Darktrace. “This year Darktrace has gained customers all over the world and in a broad range of industries, from nuclear power to legal and financial services and many in between. The rapid adoption of our technology makes it apparent that traditional defenses are no longer sufficient to detect new types of subtle attacks. We are confident that our pioneering machine learning is the future for modern businesses seeking innovative ways to protect their critical assets, regardless of their size or sector.”
There have been over 1,200 deployments of the technology to date and recent customers include a FTSE 100 bank, 3 major US retailers and an international airport. Over 200 partners have signed up to work with Darktrace all over the world, including telco giants Telstra and BT.
On announcing its partnership with Darktrace in February 2016, Mike Burgess, CISO at Telstra, commented,“Darktrace’s technology is unique in its ability to rapidly detect anomalous activity, irrespective of whether the behaviors are ‘known’ or ‘unknown’, as well as being able to visualize all network activity. By reducing the time to detect potential threats, Darktrace is strengthening Telstra’s internal security.”
In recognition of its success, Darktrace has received 36 awards, including the acclaimed ‘Queen’s Award for Enterprise’ in Innovation, the UK’s highest accolade for business success. In addition, Darktrace was named ‘Best Security Company’ for the second year in a row by Info Security Products Guide, as well as winning two awards at the Frost & Sullivan APAC ICT Awards 2016.
Winner of the Queen’s Award for Enterprise in Innovation 2016, Darktrace is one of the world’s leading cyber threat defense companies. Its Enterprise Immune System technology detects and responds to previously unidentified threats, powered by machine learning and mathematics developed by specialists from the University of Cambridge. Without using rules or signatures, Darktrace is uniquely capable of understanding the ‘pattern of life’ of every device, user and network within an organization, and defends against evolving threats that bypass all other systems. Some of the world’s largest corporations rely on Darktrace’s self-learning technology in sectors including energy and utilities, financial services, telecommunications, healthcare, manufacturing, retail and transportation. Darktrace is headquartered in Cambridge, UK and San Francisco, with 20 global offices including New York, Auckland, London, Milan, Mumbai, Paris, Seoul, Singapore, Sydney, Tokyo, Toronto and Washington D.C.