Bot detection specialist secures largest investment to date
Netacea, the Manchester-based bot detection and mitigation specialist, has secured £9m in funding, its largest investment to date.
Investors in this Series A round comprise professionals behind some of the biggest names in the cybersecurity sector.
As well as long-term backer Mercia Asset Management, investors include Rupert Cook, chairman, Netacea; Gerhard Watzinger, chairman, Crowdstrike; Marcin Kleczynski, CEO, Malwarebytes; Alex Eckelberry; NED, Malwarebytes and former non-executive director, KnowBe4; and John Viega former CEO, Capsule8.
Netacea is a fast-growing cybersecurity business that detects and mitigates against bot attacks that target mobile, website and API applications.
The funding will enable Netacea to expand its presence in the UK and the US, where the business sees significant opportunity for growth.
Netacea’s presence in the US has grown quickly in the last few months, landing several big name customers including Shutterstock.
As well as expanding its US reach, Netacea will grow its technical team, specifically in development, data science, data analysis and threat research.
Alex Eckelberry, NED, Malwarebytes, said: “A simplistic rules-based approach to bot management won’t cut it anymore. Security suites need to be supported by dedicated bot management solutions that can respond to new threats and take advantage of new threat intelligence. Netacea’s agentless approach is the right one.”
Jeremy Gidlow, CEO and co-founder, Netacea, said: “We’re delighted to close this new round of funding—the support and business expertise from our investors has been invaluable in taking Netacea from a new product to an established and confident business. We have already won some big U.S. customers, such as Shutterstock, and look forward to continuing our push into the U.S. market.”
