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#News(Security) [ via IoTForIndiaGroup ]
British cybersecurity start-up Darktrace has raised $50 million in a funding round that values the firm at $1.65 billion.
The investment, announced on Thursday, was led by European private equity firm Vitruvian Partners and includes backing from existing investors KKR and TenEleven Ventures.
Cambridge-headquartered Darktrace, founded in 2013, uses artificial intelligence (AI) and machine-learning technology to detect and counter cyber threats. The investment is a Series E round, which is the fifth major funding round of a venture.
Darktrace says its technology, called the Enterprise Immune System, acts similarly to a human immune system. It uses a computer algorithm to monitor patterns and adapt to understand what constitutes normal and suspicious cyber behavior.
It further uses what is known as autonomous response technology to respond to any threats automatically, either slowing or shutting down a device or connection that has been compromised. The firm recently released the second version of its autonomous response system, called Antigena, which is aimed at targeting malicious emails.
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