Tag: Mike Lynch

There’s money where there’s immunity

creditcrunchcoinsmoneyvicewatersmay2014-580x358UK cybersecurity vendor Darktrace has raised $75m in funding, taking its valuation to $825 million.

The Cambridge-based seller is subsidised by Autonomy founder Mike Lynch and is based around its Enterprise Immune System product, which uses AI to identify cyber-threats.

The funding more than doubles Darktrace’s formerly suggested valuation of $400m from the time of its fundraising final year.
Insight Venture Partners, which has formerly invested in Cylance, Mimecast and Veeam apparently came to the party.

Nicole Eagan, CEO at Darktrace, said that Insight Venture Partners has a tested record of partnering with tech-centered firms. Its Darktrace backing is a validation of the fundamental and differentiated era that the Enterprise Immune System represents.

Businesses were turning to Darktrace’s AI method to make themselves more resilient to cyber-attackers.

Darktrace has raised around $180 million in funding, and claims its general contract cost has reached $200 million which is a 140 per cent growth in a year. Jeff Horing, handling director at Insight Venture Partners stated: “In just four years, Darktrace has established itself as an international leader in AI-powered safety.

UK police end Autonomy investigation

HPThe Serious Fraud Office (SFO) has abandoned its probe of an inquiry into Autonomy, taken over by Hewlett Packard.
In a statement, it said there was insufficient evidence for any chance of a realistic prospect of conviction.
HP had accused Autonomy founder and CEO Mike Lynch of fraud related to the sale – an allegation that Lynch has consistently denied.
However, US authorities continue to investigate the acquisition of Autonomy by HP.
The SFO said: “On application of well established principles, jurisdiction over the investigation has been ceded to the US authorities, whose investigation is ongoing.”
HP bought Autonomy for $11.1 billion but then claimed it was worth $8 billion less than it had paid a year later.