Global cybercrime disruptor Netcraft bags more than $100m in funding

Global cybercrime disruptor Netcraft bags more than $100m in funding

Netcraft, the global titan in cybercrime detection, disruption, and takedowns, has recently become a focal point in the FinTech sector.

With its advanced technology platform capable of disrupting and eliminating cybercrime in an automated fashion, it serves financial institutions, governments, and corporations globally.

The company has raised an impressive sum of over $100m. This significant investment came from Spectrum Equity, a growth equity firm well-regarded for its focus on internet-enabled software and data services companies.

Netcraft offers a unique proposition in the global FinTech landscape. Its services include cybercrime detection and disruption, utilising an innovative technology platform to automate cybercrime takedowns. This approach has led to its recognition as the world’s largest provider of takedowns, delivered as a subscription service to a wide variety of clients.

With the injection of funds from Spectrum Equity, Netcraft intends to accelerate its strategic plans to drive growth and expand globally. The company is strategically positioned to scale and take its distinctive approach to cybersecurity into new markets, potentially disrupting the cybercrime landscape at an even larger scale.

In addition to the financial milestone, Netcraft has announced a strategic leadership change. The company named experienced technology executive Ryan Woodley as its new CEO. Woodley, a seasoned leader with a track record of successfully growing technology companies, will bring a wealth of experience to his role at Netcraft.

Mike Prettejohn, the founder of Netcraft, expressed gratitude for the journey thus far. He said, “I’m grateful to my colleagues and our customers who have grown Netcraft from a laptop and a modem to the point where it now serves many of the world’s largest enterprises and governments, without any outside funding.

“Having decided to accept growth equity, we chose Spectrum because of its success in scaling other cybercrime businesses, particularly Verafin and Ethoca, prior to their respective sales to Nasdaq and Mastercard.”

Parag Khandelwal, Managing Director of Spectrum Equity, echoed this sentiment. He said, “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. We’re honoured to partner with this company and work closely with Ryan to help bring its solutions to more organizations worldwide.”

Woodley, expressing excitement about his new role and the company’s future, said, “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. 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.”

Netcraft’s journey so far has been marked by growth and innovation without the aid of any outside funding until now. The company’s recent round of investment from Spectrum Equity represents the first external investment in its history.

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