Darktrace raises $65 mln in funding round led by KKR

(Reuters) – Cyber-security firm Darktrace said it has raised $65 million in an equity funding round led by U.S. private equity firm KKR & Co LP, valuing the company at more than $400 million.

The funding round also includes existing investor Summit Partners and new investors TenEleven Ventures and SoftBank -affiliated SB ISAT Fund, the firm said.

Darktrace, which is headquartered in Britain’s Cambridge and San Francisco, said its revenue grew 600 percent in the latest financial year.

Darktrace uses advanced machine learning and mathematics developed at the University of Cambridge to identify abnormalities in a company’s IT network that might be an attack.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Cynthia Osterman)