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Manchester cyber security start-up raises $12m in Series A funding


Bot detection and mitigation start-up Netacea has secured $12 million (£8.85 million) in funding from experienced investors including figures from Crowdstrike and Malwarebytes.

The cyber specialist, which is based in Manchester city centre, will use the Series A investment to expand its presence in the UK and the US, where it business sees significant opportunity for growth. Already it has half of its sales team based in America.

Netacea is also set to grow its technical team across development, data science, data analysis and threat research.

Investors include long-term supporter Mercia Asset Management, alongside Rupert Cook, Netacea Chairman; Gerhard Watzinger, Chairman of Crowdstrike; Marcin Kleczynski, CEO of Malwarebytes; Alex Eckelberry, NED at Malwarebytes; and the former CEO of Capsule8, John Viega.

Jeremy Gidlow, CEO and Co-founder of 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 US customers, such as Shutterstock, and look forward to continuing our push into the US market.”

Netacea, which doesn’t involve inserting code on customers’ webpages, detects and mitigates against bot attacks on mobile, website and API applications. It takes a smart approach, using threat intelligence and machine learning to identify threats in almost real-time.

The company supports UK clients which include ClearScore, William Hill and All Saints, as well as its growing roster of US clients.

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