More funding for AI cybersecurity: Darktrace raises $75M at an $825M valuation

From Techcrunch


With cybercrime projected to reap some $6 trillion in damages by 2021, and businesses likely to invest around $1 trillion over the next five years to try to mitigate that, we’re seeing a rise of startups that are building innovative ways to combat malicious hackers. In the latest development, Darktrace — a cybersecurity firm that uses machine learning to detect and stop attacks — has raised $75 million, giving the startup a post-money valuation of $825 million, on the back of a strong business: the company said it has a total contract value of $200 million, 3,000 global customers and has grown 140 percent in the last year.

The funding will be used to expand the company’s business operations into more markets. Notably, Darktrace also separately announced today that it is now in a strategic partnership with Hong Kong-based CITIC Telecom CPC, a telecoms firm serving China and other parts of Asia, “to bring next-generation cyber defense to businesses across Asia…

Read More Here- More funding for AI cybersecurity: Darktrace raises $75M at an $825M valuation

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