Cyber security services firm Netcraft has raised over $100m from Spectrum Equity to help scale up its well established operations in the UK and beyond. It is the firm’s first outside funding.
Along with the investment from Spectrum, Bath, UK-based Netcraft has named technology executive Ryan Woodley as its new CEO. He was previously CEO of Progressive Leasing, a US financial technology company, which grew from around $220m in sales to $2.5 billion, and then went public.
He also served as COO and CFO at DigiCert, the high assurance digital security certificate authority, which roughly tripled in size during his tenure.
Netcraft offers cyber crime detection and disruption services, and has become one of the world’s largest providers of takedowns, which are delivered as a subscription service to financial institutions, governments, and corporations globally.
Parag Khandelwal, managing director of Spectrum Equity, said: “Netcraft has blocked more than 173m malicious attacks and takes down more than 15m cyber attacks each year. It takes down roughly one-third of all global phishing attacks on behalf of its customers. We will work closely with Ryan to help bring its solutions to more organisations worldwide.”
