Darktrace, a leading cyber security startup has raised a $75 million Series D financing round led by Insight Venture Partners, with participation from existing investors Summit Partners, KKR and TenEleven Ventures.
The company claims that it has climbed new commercial highs as its total contract value hits $200 million, an increase of 140% from last year. Much of this growth was driven by outstanding performance in the U.S., where bookings increased threefold.
Darktrace said it uses AI technology for cyber security, tackling the challenge of defending against ever more sophisticated cyber-attacks. Powered by machine learning and AI algorithms, Darktrace’s Enterprise Immune System technology is capable of detecting and responding to cyber-threats that evade legacy security controls, containing incidents before damage is done.
The company’s headcount has doubled over the past 12 months, now standing at 500 employees.