Estonia-based web security company Blackwall has raised $100 million in a Series C round at a $2.2 billion valuation, TechCrunch reported on October 20, citing interviews with company executives. AVP led the round, while existing investors Dawn Capital, MMC Ventures and Tera Ventures participated. Executive chairman Roi Carthy told the publication that the new valuation is four times the figure associated with Blackwall's previous funding round in 2025.
A security business built around hosting partners
Blackwall's route to market differs from a direct sale to every website owner. It supplies tools to hosting companies, cloud providers and managed service providers, which can package and offer them to their own customers. Co-founder and CEO Nikita Rozenberg told TechCrunch that partners can choose the components they need, set their customer prices and share revenue with Blackwall. The company offers an initial view of traffic and threats for free, then charges for protection and other controls.
The platform's scope includes DDoS protection, traffic routing, threat intelligence and certificate management, according to the report. Blackwall also aims to separate human visitors and legitimate AI agents from malicious bots and disruptive requests. Rozenberg described fingerprinting and behavioral analysis as parts of that process. These are the company's claims about its capabilities; the funding announcement does not by itself establish how accurately the tools classify traffic in independent tests.
Why automated traffic matters now
Website operators face several kinds of automated requests with different purposes. A search crawler, an AI agent acting for a user, a scraper that ignores site preferences and a botnet probing for weaknesses should not necessarily receive the same treatment. Controls that simply block all automation can interfere with legitimate access, while controls that allow everything can expose services to abuse and higher infrastructure costs. This creates a practical need for policy and visibility at the network edge.
Blackwall plans to spend the new funding on geographic expansion in North America, Europe, Asia-Pacific and the Middle East, as well as more security products for its provider partners, TechCrunch reported. The financing is a business signal about the market for managing machine-generated web traffic. It is not evidence that AI agents are inherently malicious, or that any one vendor has solved the broader problem of deciding which automated requests should be trusted.