Bath, UK-based company which specializes in cybercrime detection, disruption, and takedowns, NetCraft raised more than USD 100 million in its first funding. The round took place on July 18, 2023. Leading growth equity firm focused on internet-enabled software and data services companies, Spectrum Equity led the financing for the company.
Purpose of financing for Netcraft
With the latest financing, Netcraft seeks to accelerate the company’s strategic plans to drive growth. It also has plans to use the investment to fund expansion globally.
What the company’s official has to add
Mike Prettejohn, the founder of the company, 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.”
In addition, Ryan Woodley, CEO of Netcraft, 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 are 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.”
What the investors have to add
Parag Khandelwal, Managing Director of Spectrum Equity, further said, “Mike and his incredible team have built a truly differentiated offering for organizations of all sizes looking to stop cyberattacks. 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.”
About the company
Mike Prettejohn, in 1987 launched the company. Netcraft offers cybercrime detection and disruption services. The company leverages its advanced-tech platform to take down cyber crime online in an automated manner. Netcraft has become a provider of takedowns, which are delivered as a subscription service to financial institutions, governments, and corporations globally.
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