4 Min Read
LONDON (Reuters) -Darktrace, the British cyber security firm backed by tech entrepreneur Mike Lynch, fired the gun on its $4 billion London listing on Monday, aiming to raise new funds to accelerate product development and strengthen its balance sheet.
The technology company, founded in 2013 in the university city of Cambridge, uses AI to understand IT networks and detect attacks by identifying unusual behaviour.
“We are in a new era of attacks.it’s going to be these little pieces of code fighting it out in the background of our businesses,” said Chief Executive Poppy Gustafsson in an interview with Reuters, calling the planned listing a major milestone for the company.
U.S. President Joe Biden is nominating Chris Inglis to be the National Cyber Director and Jen Easterly to be director of the Cybersecurity and Infrastructure Security Agency, the White House said on Monday.
China's cyber regulator has launched a hotline to report online comments that defame the ruling Communist Party and its history, vowing to crack down on "historical nihilists" ahead of the Party's 100th anniversary in July.
3 Min Read
NEW DELHI (Reuters) - India’s central bank has ordered digital payments firm MobiKwik to probe allegations that data of its 110 million users was breached, and warned that the company will face fines if lapses are found, a source with direct knowledge of the situation told Reuters on Thursday.
FILE PHOTO: A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi, India, November 9, 2018. REUTERS/Altaf Hussain/File Photo
MobiKwik, which is backed by Sequoia Capital and India’s Bajaj Finance, has faced growing criticism this week for denying a leak many customers and digital rights activists say is linked to the company’s database.
2 Min Read
OAKLAND, Calif. (Reuters) - Cyber insurance startup Coalition Inc on Wednesday said it raised $175 million in its latest round of funding, which valued the company at $1.75 billion as the need for protection against hacks, ransomware and data theft has surged with remote work during the pandemic.
San Francisco-based Coalition also uses its technology to assess a customer’s cyber risk and during the life of a policy will monitor for possible problems and notify customers to prevent breaches, said Joshua Motta, co-founder and CEO.
Motta said Coalition provides up to $15 million of insurance for U.S. companies and C$20 million in Canada, the only two countries where it now operates.