On Tuesday, July 18, London-based cybercrime detection company, Netcraft, revealed securing more than $100M (approximately €89M) in funding from Spectrum Equity, a growth equity firm specializing in internet-enabled software and data services companies.
The recent investment obtained by Netcraft will play a crucial role in accelerating the realization of its strategic plans, enabling robust growth and international expansion.
Ryan Woodley, the newly appointed CEO of Netcraft, expressed enthusiasm about the significant funding. He emphasized the company’s mission of detecting and disrupting cybercrime on a large scale, with the ultimate goal of creating a safer online environment for everyone.
Netcraft’s exceptional team, renowned for its speed, scale, and effectiveness in combating cybercrime worldwide, has made it a leading force in the industry. Woodley is thrilled to join this accomplished team and collaborate with their esteemed customers and partners in advancing their innovative approach to safeguarding the world from cyber threats.
New CEO Appointed
In addition to securing funding, the company has made a significant leadership change by appointing Ryan Woodley, an accomplished technology executive, as its new CEO.
Ryan brings a wealth of experience in spearheading growth-oriented technology companies and boasts a remarkable track record of success. Previously, he held the position of CEO at Progressive Leasing, where he led the company’s impressive journey from approximately $220 million to $2.5 billion in revenue, culminating in a successful IPO.
Furthermore, Ryan served in pivotal roles at DigiCert, the world’s largest high assurance digital security certificate authority. During his tenure, the company experienced remarkable growth, nearly tripling in size, and was later acquired by a private equity firm.
Recently, Ryan has actively contributed to the boards of high-growth technology companies, PDQ.com, and Conservice, lending his expertise and insights to support their strategic endeavors. With such an impressive background, Ryan Woodley is well-positioned to lead Netcraft into a new era of growth and innovation.
The primary objective of the company is to combat cybercrime on a large scale by fostering continuous innovation, employing extensive automation, and leveraging unique insights. These efforts collectively contribute to creating a more secure online environment for users worldwide.
Situated in the United Kingdom, Netcraft collaborates with three major corporations, twelve prominent banks, and the governments of five of the world’s largest economies.
About the Investor
Spectrum Equity, a growth equity firm, specializes in providing capital and strategic support to innovative companies operating in the information economy.
According to Parag Khandelwal, Managing Director of Spectrum Equity, Netcraft, led by Mike and an exceptional team, offers a uniquely effective solution for organizations of all sizes seeking to combat cyberattacks. The remarkable scale of their impact is evident, with Netcraft successfully thwarting over 173 million malicious attacks and neutralizing more than 15 million cyberattacks annually. Notably, the company plays a crucial role in dismantling approximately one-third of all global phishing attacks on behalf of its clients. The privilege of partnering with Netcraft lies in the opportunity to collaborate closely with Ryan to extend these cutting-edge solutions to a broader range of organizations worldwide.