Blackwall raises USD $100 million in Series C round

Blackwall has raised USD $100 million in a Series C funding round, valuing the web security company at USD $2.2 billion.

AVP led the round, with participation from existing investors Dawn Capital, MMC Ventures and Tera Ventures. The financing will support Blackwall's international expansion and further development of its web traffic management platform for hosting providers.

Blackwall works with web hosting, managed service and cloud providers, embedding its software in their infrastructure to distinguish legitimate visitors and automated traffic from malicious bots, attacks and other abusive activity. It says it filters billions of requests each day across services including bot mitigation, DDoS protection, web application firewall, load balancing and server-side encryption.

The new capital will fund operations across 12 regions in North America, Europe, Asia-Pacific and the Middle East. Blackwall also plans to add tools to manage rising volumes of agentic AI traffic, which it says are reshaping internet usage patterns.

The funding gives Blackwall what it describes as the highest valuation yet achieved by a European cybersecurity scaleup. The company is targeting the hosting market, which it estimates at USD $200 billion, and positioning itself as a supplier to providers that want to manage traffic and offer security services without relying on larger content delivery and hyperscale platforms.

Platform strategy

Blackwall's model centres on selling through infrastructure providers rather than directly to the websites they host. It says this allows providers to block unwanted traffic before it reaches servers, lowering infrastructure and operating costs while packaging security functions as services for their own customers.

This positions Blackwall in a part of the market where web hosts and cloud providers are looking for tools they can integrate into their own environments. Its platform is designed to help those providers retain control of customer relationships while expanding the range of traffic management and security products they can offer.

Nikita Rozenberg, Co-Founder and Chief Executive Officer of Blackwall, said the company sees growing complexity in internet traffic.

"The web is becoming more automated, more distributed and more complex, but the infrastructure that powers it remains highly fragmented," said Rozenberg. "Our ambition is to build the traffic management ecosystem that brings those worlds together. This funding allows us to expand globally, deepen our platform and give hosting and infrastructure providers the technology they need to participate in the next generation of the web."

Investor view

AVP said its investment reflected Blackwall's position in front of large volumes of website traffic at a time when automated agents are becoming a bigger part of internet activity.

"Blackwall has built something rare: a security company that grows with the internet itself," said Warda Shaheen, General Partner at AVP. "It is already the layer in front of millions of websites, and as more of the web's traffic comes from agents, the company in that position becomes indispensable. That's why we're leading this round."

Existing investors also pointed to the effect of AI-driven traffic on internet infrastructure. Dawn Capital highlighted pressure on systems built primarily for human users, while MMC Ventures described Blackwall as becoming increasingly important as web traffic patterns change.

"A tsunami of agents will overwhelm infrastructure optimised for human traffic. Nik and Denis are already delivering to their millions of customers the infrastructure optimised for the coming agentic web, and commercial success will flow to those businesses that are retooling today," said Fiore.

"We've backed Blackwall from its early days and have seen the business scale into critical infrastructure for the web. As AI changes how traffic moves across the internet, Blackwall's position at the front door of millions of websites has never been more important," said Samaan.

Tera Ventures, which backed Blackwall at an earlier stage, framed the latest round as evidence of the company's progress from its early years to a broader international role.

"Nik and Denis combine real grit, deep technical knowledge and a rare grasp of where the opportunity lies and how to capture it. Blackwall, now protecting millions of websites, is exactly the kind of born-global company Tera exists to back. We were their first believers, backing them from day one through the early years of building the product and winning its first partners and customers. This round shows we're far from the last," said Ivanov.