Belfast Telegraph

Darktrace raises £58m funding to battle cyber attacks

By Noor Nanji

British cybersecurity start-up Darktrace has raised another $75m (£58m) in funding as it looks to ramp up its hiring to meet surging demand after recent ransomware attacks.

Chief executive Nicole Eagan said that while IT security had been a challenge for decades, a new wave of crippling worldwide attacks have led to soaring demand for Darktrace's cybersecurity products.

"We've seen tremendous growth post-attacks such as WannaCry and NotPetya," she told the Press Association, referring to two recent massive ransomware disasters.

"Some of the funds raised will be used to add more employees, simply to keep up with the market demand."

The latest round of funding values the firm at $825m (£639m).

It was led by New York-based Insight Venture Partners.

Belfast Telegraph