Blackwall, an Estonia-based security company, said it has raised $100 million at a $2.2 billion valuation. The Series C was led by AVP, with participation from existing investors Dawn Capital, MMC Ventures, and Tera Ventures. Executive chairman Roi Carthy told TechCrunch the round values the company at four times its last fundraise in 2025.
The company helps hosting providers cope with rising bot traffic, including AI agents. Rather than competing directly with Cloudflare or Akamai, Blackwall uses a channel model: it supplies tools that hosting, managed service, and cloud providers can rebrand and resell to their own customers, keeping that relationship and sharing revenue.
Blackwall identifies traffic using digital fingerprinting and its own AI models to distinguish real visitors and legitimate AI agents from malicious bots. It offers a free tier for visibility into threats, then charges for protection tools such as DDoS mitigation, certificate management, and threat intelligence.
Co-founder and CEO Nikita Rozenberg sees future demand around AI agents that transact with websites on behalf of users, requiring systems to authorize and meter access. Cloudflare already offers similar controls, but Rozenberg argues Blackwall's advantage is letting hosting providers offer those services themselves. The source notes no disagreements; the company plans to use the funding to expand across North America, Europe, Asia-Pacific, and the Middle East.Strict JSON output. Ensure body is markdown. We have 3 paragraphs. Good. Keys exactly. No extra commas. Let's output.{