AI infosec biz Darktrace boasts near-doubled revenues as firm alumni battle HPE in civil case

Darktrace, the security startup backed in part by Mike Lynch, the exec currently involved in a big civil fraud case being heard at the UK’s High Court, has nearly doubled turnover and reported deeper losses.

The firm, started by Cambridge Uni maths boffins and folk with infosec experience gained at intelligence agencies, said in its latest results (PDF)that revenue was up 93 per cent to £59.48m in the year to 30 June 2018.

Darktrace flogs what it describes as “Enterprise Immune Systems”, which use machine learning to identify and respond to threats and incidents across cloud, IoT, virtualized networks and industrial control systems.

“The technology is self-learning and requires no set-up, identifying threats in real time, including zero-days, insider and stealthy, silent attackers,” the blurb stated in its P&L accounts filed at Companies House.

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Source:  The Register