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 »

CyberSecurity Jobsite
Perimeter 81
Cyrin

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

Sign Up: Cyber Security Intelligence Newsletter

Directory of Suppliers

TÜV SÜD Academy UK

TÜV SÜD Academy UK

TÜV SÜD offers expert-led cybersecurity training to help organisations safeguard their operations and data.

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

Syxsense

Syxsense

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

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.

Satisnet

Satisnet

Satisnet is a leading Security Reseller, Managed Security Services Provider (MSSP) and Cyber Training Innovator, with operations throughout the UK, EMEA and United States.

Cato Networks

Cato Networks

Cato connects your branch locations, physical and cloud datacenters, and mobile users into a secure and optimized global network in the cloud.

Deltagon

Deltagon

Deltagon develops information security solutions to protect companies’ confidential information in e-communication and e-services.

Schneider Electric

Schneider Electric

Schneider Electric develops connected technologies and solutions to manage energy and process in ways that are safe, reliable and sustainable.

Vuntie

Vuntie

Vuntie blend European craftsmanship, performance and open-source technology to deliver cybersecurity services including penetration testing, incident response, training and consultancy.

ITRenew

ITRenew

ITRenew is a leading global IT lifecycle management solutions company, specializing in onsite data center decommissioning and data erasure services.

Inceptus

Inceptus

Inceptus is a next generation Managed Security Service Provider (MSSP). We are dedicated to keeping our customers safe, secure and protected while doing business on the Internet.

SurePassID

SurePassID

SurePassID is a provider of highly secure, highly extensible multi-factor authentication (MFA) solutions.

Hunter Strategy

Hunter Strategy

Hunter Strategy focuses on delivering solutions that are concise, scalable, and target our customer’s complex technical challenges.

AVANTEC

AVANTEC

AVANTEC is the leading Swiss provider of IT security solutions in the areas of cloud, content, network and endpoint security.

Noblis

Noblis

Noblis is a dynamic science, technology, and strategy organization dedicated to creating forward-thinking technical and advisory solutions in the public interest.

Perygee

Perygee

Perygee is a fully integrated platform for operational security. Companies depend on Perygee to identify and streamline the most important security practices for their operations.

Archer Technologies

Archer Technologies

Archer helps organizations manage risk in the digital era—uniting stakeholders, integrating technologies and transforming risk into reward.

Var Group

Var Group

Var Group is one of the main partners for innovation in the ICT sector in Italy.

Defend-OT

Defend-OT

Defend-OT is a Belgium-based cybersecurity firm specializing in OT environments.

AUCyber

AUCyber

AUCyber is a leading provider of managed cyber security solutions and consultancy services, specialising in supporting Australian organisations and Government agencies.