100% Revenue Growth, Darktrace Total Contract Value Hits $400 Million
Darktrace, the world’s leading AI company for cyber defense, has today announced ending its financial year on an all-time high, securing contracts with a total value of over $400 million.
Five years since its founding, Darktrace is valued at $1.25 billion and is one of the fastest growing private companies in the world, with revenues increasing 100% year-on-year. Over 700 employees are fuelling Darktrace’s rapid expansion, ramping up its operations in large markets such as the U.S. and Europe. Momentum is also gaining in regions including Japan, Australia, and Latin America, where there is strong demand for the company’s cyber AI.
Darktrace now defends 7,000 networks, and deployments of Darktrace Antigena - the company’s autonomous response solution - have increased by 30% in the last quarter. This AI response capability defends networks 24/7, blocking seven high-severity threats per minute, and saving ten hours a week per security analyst on average. When attacks move at machine speed, Darktrace Antigena augments human security teams by neutralizing the threat – protecting data from being encrypted and computers from being locked.
Customer wins include global memory and semiconductor technology company, Micron; US food manufacturer, King’s Hawaiian; one of Europe’s leading pharmaceutical traders, Phoenix Group; and the Hong Kong University of Science and Technology. Partners include Siemens, BT, NESIC and Telstra.
Sophie Bower-Straziota, Managing Director at Vitruvian Partners, Darktrace’s most recent investor commented: “Darktrace’s highly innovative AI technology enables organizations to understand and contain internal and external cyber threats in a fundamentally unique way. The strength of Darktrace’s value proposition is evident through the company’s rapid growth, with the solution quickly becoming a “must have” addition to companies’ security suites. We are thrilled to have backed the team, and look forward to supporting their continued success and expansion in the coming years.”
Nicole Eagan, CEO at Darktrace, commented: “AI is now the de facto approach to cyber defense, reflected by Darktrace’s phenomenal growth. We look forward to expanding our business in new markets, as well as protecting more digital and critical infrastructure with autonomous response technology and Darktrace Cloud.”
Darktrace is the world’s leading AI company for cyber defense. Created by mathematicians, the Enterprise Immune System uses machine learning and AI algorithms to detect and respond to cyber-threats across diverse digital environments, including cloud and virtualized networks, IoT and industrial control systems. The technology is self-learning and requires no set-up, identifying threats in real time, including zero-days, insiders and stealthy, silent attackers. Named on Fast Company’s ‘World’s Most Innovative Companies’ 2018 ranking, Darktrace is headquartered in San Francisco and Cambridge, UK, and has 650+ employees in over 30 offices worldwide.