Cyber Story
UK cybersecurity startup has raised $75m in a Series D round, valuing the company at $825m (double the valuation from its capital raise in the previous year, 2016). Darktrace was founded in Cambridge and is a mere four years old. Insight Venture Partners, a new funder for Darktrace, stepped in alongside existing investors Summit Partners, KKR and cybersecurity specialist investor TenEleven Ventures (based in Boston and Silicon Valley). Darktrace has 500 staff and $200m of contracts including customers like British Land and Metro Bank.
Wider VC World and IoT Still Strong
In the wider VC world, funding in Europe hit 6.4 billion euros in 2016, the highest level since 2007. Invest Europe (formerly known as the EVCA) reports that 10% of the funding comes from US institutional investor. Furthermore the size of venture capital funds is increasing, with 13 funds raising more than 100m euros in 2016. Samsung NEXT is also coming to Europe with a promise of 150mm USD focused on AI, IoT, AR and VR. Berlin-based Felix Petersen is the MD in Europe.
UK cybersecurity startup has raised $75m in a Series D round, valuing the company at $825m (double the valuation from its capital raise in the previous year, 2016). Darktrace was founded in Cambridge and is a mere four years old. Insight Venture Partners, a new funder for Darktrace, stepped in alongside existing investors Summit Partners, KKR and cybersecurity specialist investor TenEleven Ventures (based in Boston and Silicon Valley). Darktrace has 500 staff and $200m of contracts including customers like British Land and Metro Bank.
Wider VC World and IoT Still Strong
In the wider VC world, funding in Europe hit 6.4 billion euros in 2016, the highest level since 2007. Invest Europe (formerly known as the EVCA) reports that 10% of the funding comes from US institutional investor. Furthermore the size of venture capital funds is increasing, with 13 funds raising more than 100m euros in 2016. Samsung NEXT is also coming to Europe with a promise of 150mm USD focused on AI, IoT, AR and VR. Berlin-based Felix Petersen is the MD in Europe.
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