Blackwall secures $100M Series C at a $2.2B valuation
Estonia-based web traffic security company Blackwall has raised a $100 million Series C at a $2.2 billion valuation. AVP led the round, with existing investors Dawn Capital, MMC Ventures and Tera Ventures also participating. Executive chairman Roi Carthy said the valuation is four times higher than at Blackwall’s previous fundraise in 2025.
Blackwall develops security and traffic-management tools for web hosting, managed-service and cloud providers. The company positions its offering around the growing volume of automated web requests, including bot traffic, scraping activity, botnets, DDoS attacks, malicious requests and AI agents.
A channel model for hosting providers
Rather than selling a platform directly to individual websites, Blackwall works through service providers. It supplies a bundle of tools that hosting, cloud and managed-service companies can customize, brand as their own and offer to their customers while retaining the client relationship.
Co-founder and CEO Nikita Rozenberg said partners can select security components for their own service packages, set end-customer prices and share revenue with Blackwall. The company initially provides a free tier intended to show customers the traffic and threats reaching their networks; protection and remediation tools are paid services.
The portfolio includes threat intelligence, certificate management, DDoS protection and traffic routing. Blackwall also analyses incoming web traffic in an effort to distinguish real visitors and legitimate AI agents from disruptive or malicious automated activity.
Filtering AI agents and malicious automation
Rozenberg said Blackwall uses digital fingerprinting to identify the software behind a request, citing examples such as Microsoft Office and Codex. Its own AI models operate at customer endpoints to examine the intent and behaviour of incoming requests, aiming to separate an agent acting on a genuine user request from a malicious bot.
The distinction is becoming more significant as AI agents interact with websites on behalf of users. Rozenberg expects systems will need to govern which agents are allowed access, under what conditions and how they are authorized to make payments.
Other infrastructure providers are pursuing related controls. Cloudflare’s AI Crawl Control allows website owners to permit or block individual AI crawlers and includes an option to charge for access. Blackwall’s stated approach is to enable hosting providers to offer comparable traffic-management capabilities without transferring the customer relationship to a separate security vendor.
Expansion plans
Blackwall plans to use the new capital to expand across North America, Europe, Asia-Pacific and the Middle East. It also intends to develop additional security tooling for hosting, cloud and managed-service providers.
For businesses that rely on provider-managed web infrastructure, the funding highlights a practical requirement: traffic policies must increasingly distinguish legitimate automation from harmful requests while preserving control over the end-customer service relationship.