Darktrace, a pioneer in applying artificial intelligence to cybersecurity, is making the first major IPO offer in London after the Deliveroo flop
Cambridge-based computer security firm Darktrace has announced plans to go public in London with a target of up to £ 3 billion.
It’s the first major tech listing announced since Deliveroo’s disastrous IPO earlier this month, which saw shares plunge 30 percent on the first day of trading.
Darktrace, founded in 2013 by math professors and former members of the UK Security Service, said it will use the funds raised to drive product development as it focuses on growth.
The company uses artificial intelligence to detect attacks by detecting unusual behavior.
The company was one of the first to apply AI techniques to cybersecurity.
It has not disclosed the size of its plans, but reports suggest that Darktrace could aim for a valuation of up to £ 3 billion.
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