Cybersecurity Firm Darktrace Grabs $65m Investment Round


Darktrace, a U.K.-based cybersecurity company, has raised a $65 million investment round led by KKR with participation from Softbank Group. Ten Eleven and Summit Partners were also included in the funding round, which values Darktrace at more than $400 million. Darktrace was founded by former officials at the U.K.’s Government Communications Headquarters (GCHQ) and computer scientists from the University of Cambridge. The company’s technology is a piece of hardware which is plugged into a client’s network to learn how different devices function. The system can then detect anomalies as they occur.

HourlyNerd, a technology platform for business expertise, has closed a Series C funding round worth $22 million. General Catalyst Partners led the round, with participation from Highland Capital Partners, GE Ventures, Mark Cuban, Greylock Partners and Bob Doris of Accanto Partners. HourlyNerd has now raised more than $33 million in total. “This is a tipping point for our business,” said Rob Biederman, co-CEO and co-founder. “Top professionals are choosing to be independent: controlling where, when and how they do business. When we started in 2013, we believed that talent should be able to find opportunity in a radically different way. To gather such momentum so quickly has been rewarding and speaks to a massive market opportunity; we’re only scratching the surface. Talented people will gain even more freedom and flexibility in coming years, and we’re excited to help drive that transition.”

Twistlock, a provider of security solutions for virtual containers, has completed a $10 million round of funding led by TenEleven Ventures. New investor Rally Ventures and existing backer YL Ventures also participated. “We are delighted to have venture capitalists of this caliber and experience helping us build the company,” said Ben Bernstein, CEO and co-founder of Twistlock. “We plan to grow the business and the technology aggressively so we can continue to provide best-in-class protection for organizations that are adopting containers and microservices.”

Veriflow, the network breach and outage prevention company, has raised $8.2 million in Series A funding led by Menlo Ventures along with current investor New Enterprise Associates. “The feedback from customers and analysts indicates the market is ready for a new approach to network breach and outage prevention. Our use of mathematical network verification, grounded in data-plane information, gives customers a proactive approach to identifying vulnerabilities before they are exposed to catastrophic problems,” said James Brear, president and CEO of Veriflow. “Veriflow provides a comprehensive view of the network that gives administrators the confidence to make changes without fear of damaging critical services and layers of defense. We’ve spent several years developing our innovative technology, and this funding will enable us to hire key talent, bring our product to market more quickly and expand into new markets.”

  • Kevin Abel

    Please bring back the hardcopy version of Red Herring. I enjoyed reading it very much.