Darktrace became the first cybersecurity company to pursue a London initial public offering (IPO) since 2018, revealing growing revenue and a significant channel sales motion. The England-based company said more than 370 active channel partners across nearly 70 countries accounted for 35 percent of Darktrace’s revenue as of Dec. 31, according to a registration document filed Monday. Darktrace is looking to raise between US$350 million and US$400 million in a London Stock Exchange IPO that could value the company at US$4 billion, The Wall Street Journal reported. “Although the majority of the Group’s sales are direct to customers, the Group also relies on its channel partners to sell and market its products,” Darktrace wrote in its 163-page registration document. “These channel partners increase brand visibility and sales for the Group and assist in penetrating markets where the group does not have a significant direct sales team.”