Mike Lynch-backed Darktrace bags extra funding

Brit security vendor bags further $22.5m in funding as it ploughs on with global expansion

Cybersecurity vendor Darktrace has bagged $22.5m (£14.4m) in Series B funding from equity investor Summit Partners.

The Cambridge-headquartered company was founded with the backing of former Autonomy boss Mike Lynch (pictured), who invested $20m in September 2013 from the Invoke Capital fund. Lynch is currently embroiled in a legal dispute with HP.

Now Darktrace has raised further capital which it will use to "hire world-class talent" and expand its presence in the US and Asia-Pacific.

Nicole Eagan, Darktrace chief executive, said the investment was testament to the firm's capabilities.

"We are delighted to be working with summit partners, an investor with deep experience in the security sector, as we continue to rapidly grow our business," she said.

"This is yet another validation of our machine-learning and mathematics approach, and will enable us to maintain a fast pace of innovation, and pursue our vision of bringing the enterprise immune system to the heart of cyberdefence strategies today."

Darktrace counts among its ranks former members of MI5, GCHQ and NSA, and the managing director of Summit Partners, Han Sikkens, said the firm's leadership was key to the investment.

"We have been impressed by Darktrace's outstanding leadership team and unique combination of security intelligence, technical and commercial skills. We welcome the opportunity to help accelerate the company's growth across the world," he said.

Darktrace uses mathematics and machine learning to detect and respond to threats. The privately held company signed up Exclusive Networks as a distributor in the UK earlier this year.