Richard Hyatt

Richard Hyatt is a Canadian technology entrepreneur, operator, mentor, and angel investor best known as co-founder of BlueCat Networks and Dyadem. Public profiles from Creative Destruction Lab and LinkedIn describe him as a BlueCat co-founder and director with expertise in security, networks, and cloud infrastructure. BlueCat was founded in 2001 after Michael and Richard Hyatt, then running Dyadem, built their own DNS server when they were unsatisfied with available options.

At BlueCat, Hyatt served as co-founder and CTO before moving into the Chief Scientist role in 2014 when Andrew Wertkin was appointed CTO. BlueCat later agreed to be acquired by Madison Dearborn Partners in 2017; BlueCat described the company as a provider of Adaptive DNS solutions for enterprise network infrastructure. In 2022, Audax Private Equity announced a controlling growth investment in BlueCat, with Madison Dearborn fully realizing its investment.

Hyatt also co-founded Dyadem, a Toronto operational-risk and quality-risk-management software company. IHS acquired Dyadem in 2011; Dyadem served large industrial customers across sectors including oil and gas, chemicals, mining, pharmaceuticals, medical, automotive, electronics, aerospace, and defense.

He is a Founding Partner and Fellow at Creative Destruction Lab’s Toronto site at the University of Toronto’s Rotman School of Management and has served on Georgian Partners’ CEO Board of Advisors. Public profiles list his education at the University of Toronto from 1991 to 1992. In 2023, Michael and Richard Hyatt acquired control of DataStealth, a Mississauga/Toronto-area cybersecurity company, and Richard took an active technical role with the engineering team; DataStealth’s current team page lists him as Strategic Technical Advisor.

• Backs enterprise technology where he can add operating leverage from having built and scaled BlueCat and Dyadem.
• Appears to prefer capital-efficient businesses with meaningful customer traction. On DataStealth, he told BetaKit he was impressed by “a profitable company with great technology, solid growth, strong gross margins, no debt, and limited outside capital.”
• Focuses heavily on technical defensibility and ease of deployment. On DataStealth, he said, “You can install this product with no agent, no code, nothing. It just works.”
• Invests where he can be hands-on rather than passive. BetaKit reported that Richard joined DataStealth’s board and worked with the engineering team after the Hyatt brothers acquired control.
• Demonstrated sector interests include cybersecurity/data protection, enterprise networking, cloud infrastructure, legaltech, and AI-enabled enterprise software.
• Public investment records and press releases show seed-stage participation, including MinuteBox and Ideal, alongside larger operator-led control investment in DataStealth.