Cybersecurity Netcraft secures $100M investment

Date:

Cybersecurity firm Netcraft has secured a substantial $100 million investment in a funding round led by private equity investor Spectrum Equity. This comes at a time when funding for cybersecurity startups is slowing down due to market oversaturation and the broader economic slowdown. Despite this, the cybersecurity market continues to outpace the tech industry, experiencing 12.5% year-over-year growth in the first quarter of 2023.

Netcraft, which was founded in 1995, offers subscription-based services for detecting, disrupting, and taking down cybercrime. The company utilizes artificial intelligence (AI) to combat online threats such as brand infringement, phishing, executive impersonation, and fake e-commerce sites. By engaging with bad actors at scale, particularly those involved in investment, cryptocurrency, and money transfer scams, Netcraft is able to collect valuable information to aid in their takedown.

In addition to automation services, Netcraft provides a threat intelligence feed covering cybercrime targeting major institutions and conducts a web survey that includes data on approximately 1 billion websites. This wealth of data, combined with machine learning, allows Netcraft to accurately detect and combat attacks in real-time.

The increasing challenge of cybersecurity threats is evident in the rise of phishing attacks, which saw a 48% increase in the first half of 2022. It is projected that the annual damages caused by cyberattacks will reach approximately $10.5 trillion by 2025, marking a 300% increase from 2015 levels.

Netcraft’s impressive client base, which includes 10 of the largest 20 banks in Europe, three of the largest four global corporations, and eight of the world’s largest governments, played a role in Spectrum Equity’s decision to invest in the company. To accommodate its expanding customer base, Netcraft plans to increase its team by 30% this year.

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The investment from Spectrum Equity will be utilized by Netcraft to expand its range of services, recruit additional talent, and enhance its customer success efforts. With cybercrime showing no signs of slowing down, Netcraft aims to continue its mission of detecting and disrupting cybercrime to ensure a safer online experience for internet users.

In a landscape where the funding for cybersecurity startups is on the decline, Netcraft’s ability to secure a significant investment highlights its position as a leading player in the industry. With its advanced automated solution, the company has successfully thwarted millions of cyberattacks, earning the trust of numerous blue-chip customers.

As the cybersecurity sector continues to evolve and face new challenges, Netcraft remains at the forefront, combining automation, human expertise, and technical prowess to provide a comprehensive defense strategy against cyber threats. This latest investment will further strengthen Netcraft’s capabilities and drive its commitment to staying one step ahead of emerging threats.

Frequently Asked Questions (FAQs) Related to the Above News

When was Netcraft founded?

Netcraft was founded in 1995.

What services does Netcraft offer?

Netcraft offers subscription-based services for detecting, disrupting, and taking down cybercrime. They utilize artificial intelligence (AI) to combat online threats such as brand infringement, phishing, executive impersonation, and fake e-commerce sites.

How does Netcraft collect information to combat cybercrime?

Netcraft engages with bad actors at scale, particularly those involved in investment, cryptocurrency, and money transfer scams, to collect valuable information that aids in their takedown efforts.

What additional services does Netcraft provide?

Netcraft provides a threat intelligence feed covering cybercrime targeting major institutions and conducts a web survey that includes data on approximately 1 billion websites.

How does Netcraft combat attacks in real-time?

Netcraft combines its wealth of data with machine learning to accurately detect and combat attacks as they happen.

What is the projected annual damages caused by cyberattacks by 2025?

It is projected that the annual damages caused by cyberattacks will reach approximately $10.5 trillion by 2025, marking a 300% increase from 2015 levels.

Who are some of Netcraft's notable clients?

Netcraft's impressive client base includes 10 of the largest 20 banks in Europe, three of the largest four global corporations, and eight of the world's largest governments.

How does Netcraft plan to accommodate its expanding customer base?

Netcraft plans to increase its team by 30% this year to accommodate its expanding customer base.

What will Netcraft use the investment from Spectrum Equity for?

Netcraft will use the investment to expand its range of services, recruit additional talent, and enhance its customer success efforts.

Why did Spectrum Equity decide to invest in Netcraft?

Spectrum Equity was influenced by Netcraft's impressive client base and its position as a leading player in the industry.

What is Netcraft's mission?

Netcraft aims to detect and disrupt cybercrime to ensure a safer online experience for internet users.

How does Netcraft differentiate itself in the cybersecurity industry?

Netcraft combines automation, human expertise, and technical prowess to provide a comprehensive defense strategy against cyber threats.

How will the investment strengthen Netcraft?

The investment will further strengthen Netcraft's capabilities and drive its commitment to staying one step ahead of emerging threats.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Advait Gupta
Advait Gupta
Advait is our expert writer and manager for the Artificial Intelligence category. His passion for AI research and its advancements drives him to deliver in-depth articles that explore the frontiers of this rapidly evolving field. Advait's articles delve into the latest breakthroughs, trends, and ethical considerations, keeping readers at the forefront of AI knowledge.

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