Netcraft has raised over $100M from Spectrum Equity, as the company named experienced technology executive Ryan Woodley as its new CEO. Woodley has decades of experience leading growth-oriented technology companies and an established track record of success.
He was previously CEO of Progressive Leasing, a leading financial technology company, which grew from approximately $220 million to $2.5 billion in revenue and went public during his tenure. He also served as COO and CFO at DigiCert, the world’s largest high assurance digital security certificate authority, which roughly tripled in size during his tenure and was successfully sold to a private equity firm. Most recently, Ryan has served on the boards of high growth technology companies, PDQ.com and Conservice.
Founded by Mike Prettejohn, Netcraft offers cybercrime detection and disruption services. With an advanced technology platform that enables the company to disrupt and take down cybercrime online in an automated manner, it’s become the world’s largest provider of takedowns which are delivered as a subscription service to financial institutions, governments, and corporations globally. The investment from Spectrum Equity will help accelerate the company’s strategic plans to drive growth and expand globally.
“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,” said Prettejohn.
“Mike and his incredible team have built a truly differentiated offering for organizations of all sizes looking to stop cyberattacks,” said 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. We’re honored to partner with this company and work closely with Ryan to help bring its solutions to more organizations worldwide.”
“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,” said Woodley. “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.”