Cybercrime detection company Netcraft raises $100M to drive growth

Cybercrime detection company Netcraft raises $100M to drive growth

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Cybercrime detection company Netcraft Ltd. has raised $100 million in new funding to drive growth, expand globally and accelerate its mission of detecting and disrupting cybercrime at scale to create a safer online experience.

Founded way back in 1995, Netcraft offers cybercrime countermeasures and disruption services that enable a company to disrupt or take down cybercrime online in an automated manner. The company claims that it has become the world’s largest provider of takedowns, which are delivered as a subscription service to financial services, governments and corporations.

The company’s threat detection and response platform uses extensive data collected over years of collecting threat data. Using the data, Netcraft’s platform delivers real-time threat identification and validation, benefiting customers and the broader online community. Notably, many of the world’s major browsers and leading antivirus software vendors use Netcraft’s intelligence feeds.

To take down cyber criminals, Netcraft has extensive relationships with hosting companies, Domain Name Systems providers, registrars and internet service providers. The relationship is combined with sophisticated threat classification and is said to have yielded a reliable track record of speedy and efficient threat responses. Netcraft claims that its knowledge of internet infrastructure and the history of past attacks have empowered them to respond effectively to malicious activities, promptly shutting them down.

To ensure transparency and visibility, Netcraft delivers evidence for every validated attack and ensures that customers are updated in real time on the progress and status of all active takedowns. Customers can access reporting through Netcraft’s portal or application programming interface that integrates with internal systems.

Spectrum Equity Management L.P. led the round. Alongside the funding announcement, Netcraft also announced that Ryan Woodley has been appointed its new chief executive. Woodly was previously CEO of the financial technology company Progressive Leasing, which he grew to $2.5 billion in revenue and took public during his tenure. He previously served in C-suite positions at digital certificate authority DigiCert Inc.

“Its scale is a testament to its effectiveness – Netcraft has blocked more than 173 million malicious attacks and takes down more than 15 million cyber attacks each year,” Parag Khandelwal, managing director of Spectrum Equity, said in a statement. “Netcraft takes down roughly one-third of all global phishing attacks on behalf of its customers.”

Image: Netcraft

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