Darktrace PLC on Wednesday said profit jumped as revenue rose by a third in a robust financial 2024.
The Cambridge-based cybersecurity company reported that revenue grew 31% to USD545.4 million in.
Rishi Sunak will tell technology leaders he wants to make the UK both the intellectual and the geographical home of artificial intelligence regulation.
In a speech to open London Tech Week on Monday,. | June 12, 2023
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TechnologySteeped in spycraft, cybersecurity firm Darktrace rockets on London debut
ReutersPaul Sandle
5 minute read
Darktrace (DARK.L), a cybersecurity company advised by former MI5 and CIA spymasters, leapt more than 40% on its market debut on Friday, delivering a boost to the London market after the spectacular flop of Deliveroo last month.
The company was priced at 250 pence in the initial public offering, giving it a valuation of just over half the original aim of $4 billion. But it rocketed to 352 pence when trading started, well above the 220-280 pence range set by its bankers when its roadshow began on Monday.
Darktrace uses AI to understand IT networks and then detect attacks by identifying unusual behaviour from within. Its advisory board includes a former director general of the British security service, Jonathan Evans, an ex-CIA chief information officer, Alan Wade, and former UK interior minister Amber Rudd.