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Report: Darktrace valuation could reach $1.25B after stock sale

British cybersecurity company Darktrace Ltd. could reach a valuation of $1.25 billion after two early investors sold some of their shares in a secondary sale, Bloomberg News reported May 15, citing a source.

European private equity company Vitruvian Partners reportedly bought the shares in a transaction completed in April.

Darktrace had a valuation of about $825 million in July 2017, Bloomberg said.

The company, which uses machine-learning technology, was founded in 2013 and has about 650 employees, the report said, citing Poppy Gustafsson, co-founder and CEO for Europe, the Middle East and Africa.