Darktrace Plans Stock Market Debut

Uploaded on 2021-04-21 in BUSINESS-Services-IT & Telecoms, BUSINESS-Services-Financial, FREE TO VIEW

Darktrace, the British AI-driven cyber security firm based in Cambridge, is planning an Initial Public Offering (IPO) on the main markets of the London Stock Exchange at the end of April 2021.  The firm expects the money raised from the IPO to help strengthen its balance sheet and speed up product development. The likely valuation is expected to be as much as £3 billion.

Darktrace currently serves over 4,700 customers in over 100 countries, with more than 1,500 employees globally. The company said that it plans to float at least 20 per cent of its shares, with an option to release a further 15 per cent of shares to the market.

The company generated about £145 million in the year ending June 2020 and estimates that it is chasing a market worth £29 billion annually. Darktrace was valued at £1.16 billion in its last publicly-announced fundraising in 2018. Founded in Cambridge in 2013, Darktrace states that it is "a pioneer of autonomous response technology," which helps clients neutralise cyber threats across diverse digital estates, including the cloud and networks, Internet of Things (IoT) and industrial control systems.

"Our intention to list on the London Stock Exchange marks a major milestone in Darktrace's history of rapid growth, and a historic day for the UK's thriving technology sector," said Polly Gustafsson, the company's CEO. 

“We are proud to be part of that tradition of British innovation, as the UK becomes a leading global centre for the development of AI... As we look forward to the next chapter, I want to recognise the achievements of all Darktrace employees in challenging our industry with a new technological approach, serving our customers with game-changing solutions, and growing our business to become a global leader.  Our proven track record puts us in a strong position to build on our momentum, continue to innovate, and expand our customer base internationally," she added.

Darktrace's float is likely to involve the sale of about £250m of new and existing shares in the company.

Darktrace states that it is "a pioneer of autonomous response technology," which helps clients neutralise cyber threats across diverse digital estates, including the cloud and networks, Internet of Things (IoT) and industrial control systems. "With deep expertise in mathematics and machine learning, as well as operational experience defending critical organisational assets, Darktrace seeks to empower enterprises to defend their systems against the most silent and sophisticated cyber threats," the company states on its website.

Darktrace:     Sky:      Business Cloud:      Computing:      Tech EU:

You Might Also Read: 

The Future Of Cyber Security Is AI:

 

« Easy-to-Guess Passwords Are Risky
New Effective Network Firewall Security »

Infosecurity Europe
CyberSecurity Jobsite
Perimeter 81
Cyrin

Real Attacks. Real Tools. Real Scenarios.
Schedule a demo

Sign Up: Cyber Security Intelligence Newsletter

Directory of Suppliers

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

Directory of Cyber Security Suppliers

Directory of Cyber Security Suppliers

Our Supplier Directory lists 8,000+ specialist cyber security service providers in 128 countries worldwide. IS YOUR ORGANISATION LISTED?

Resecurity

Resecurity

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

Crossword Cybersecurity

Crossword Cybersecurity

We work with research intensive European university partners to identify promising cyber security intellectual property from research that meets emerging real-world challenges.

BlackBerry Cybersecurity

BlackBerry Cybersecurity

Blackberry provides intelligent security software and services to enterprises and governments around the world.

Wind River

Wind River

Wind River delivers the technology and expertise that enables the deployment of safe, secure, and reliable intelligent connected systems.

CyberTech Network

CyberTech Network

CyberTECH is a global cybersecurity, Internet of Things (IoT) and Smart City network ecosystem and incubator operator.

SBD Automotive

SBD Automotive

SBD Automotive are specialists in automotive technology providing independent research and consultancy to help create smarter, more secure, better connected, and increasingly autonomous cars.

PurpleSynapz

PurpleSynapz

PurpleSynapz provides hyper-realistic Cyber Security Training with a modern curriculum and Cyber Range.

Liberty Mutual

Liberty Mutual

Liberty Specialty Markets offers specialty and commercial insurance and reinsurance products, including Cyber, across the USA, Europe, Middle East and other international locations.

IP2Location

IP2Location

IP2Location provide services to identify geolocation by IP address, and to detect IP addresses associated with anonymous proxy servers, which are often used for fraud and spamming purposes.

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

Firmus

Firmus

As the leading penetration testing services provider in Malaysia, Firmus evaluates the ability of your internal or external information assets to withstand attacks.

XpertDPO

XpertDPO

XpertDPO provides data security, governance, risk and compliance, GDPR and ISO consultancy to public and private sector organisations.

Cyber Security Council UAE

Cyber Security Council UAE

The Cyber Security Council's vision is to protect UAE cyberspace, maintain confidence in our digital infrastructure and institutions, and build a cyber-resilient society.

GeoComply

GeoComply

GeoComply provides fraud prevention and cybersecurity solutions that detect location fraud and help verify a user's true digital identity.

Credo AI

Credo AI

Credo have pioneered a Responsible AI platform that enables context driven, comprehensive and continuous governance, oversight and accountability of AI.

Endari

Endari

Endari specializes in building cybersecurity maturity within the operational DNA of early-stage startups and SMBs.

Twine Security

Twine Security

Twine is pioneering the creation of AI digital cybersecurity employees to help improve efficiency for cybersecurity teams.