UK-based cybersecurity firm Netcraft has raised over $100 million from Spectrum Equity. The firm which provides cybercrime detection and disruption services via its smart SaaS platform will use the funds to drive growth and further global expansion.
“Mike and his incredible team have built a truly differentiated offering for organisations of all sizes looking to stop cyberattacks,” says Parag Khandelwal, Managing Director of Spectrum Equity. “Its scale is a testament to its effectiveness – Netcraft has blocked more than 173 million malicious attacks and takes down more than 15 million cyberattacks each year. Netcraft takes down roughly one-third of all global phishing attacks on behalf of its customers.”
The Bath firm also welcomes a new CEO to the firm. Ryan Woodley joins the company from roles such as CEO of fintech Progressive Leasing (NYSE: PRG) - which grew from approximately $220 million to $2.5 billion in revenue and went public during his tenure - and COO and CFO at digital security firm DigiCert - it roughly tripled in size during his tenure and sold to a private equity firm. He also served on the boards of PDQ.com and Conservice.
“This significant funding will help us accelerate progress toward our mission of detecting and disrupting cybercrime at scale to create a safer online experience for everyone,” says Ryan Woodley, CEO of Netcraft. “Powered by an exceptionally talented team, Netcraft’s speed, scale, and effectiveness is unmatched in the global fight against cybercrime. I am excited to join this team and work alongside a distinguished group of customers and partners in furthering our innovative approach to protecting the world from cybercrime.”