Bath based cyber security company secures $100M investment

By Nicky Godding

21 July 2023

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Bath-based cybersecurity company Netcraft has secured a $100 million investment from Spectrum Equity Management and appointed a new chief executive, as the company seeks to expand its business in the USA.

Netcraft says it analyses more than million threat reports and suspicious web addresses a day. Its cybercrime detection, disruption and takedown platform is powered by sophisticated automation operating at scale, built with unique insight from our people.

Able to operate autonomously and around the clock, Netcraft identifies and validates cybercrime attacks quickly and accurately. Early detection leads to early disruption, which reduces the impact of cyber threats.

Ryan Woodley has been appointed as its new CEO. He has held senior executive positions at security company DigiCert as well as Progressive Leasing, which rents household products in lease-to-own arrangements. Woodley replaces Mike Prettejohn, the company’s founder, who has joined Netcraft’s board.

Netcraft, founded in 1994, does business in 100 countries, and says 10 of the 20 largest banks in Europe as its customers. The investment from Spectrum Equity will allow Netcraft to build dedicated sales and marketing teams for the first time. Netcraft also plans to further develop its technology.

Netcraft plans to increase its team by around 30 per cent and expand business in the US which currently accounts for around 25 per cent of its revenue.

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.