Blackwall raises $100M Series C at $2.2B to bet on the agentic web
What's the deal? Estonia-founded Blackwall has raised $100 million in a Series C round at a $2.2 billion valuation. AVPDealroom has a profile for this one. Try Dealroom → led the round, with existing investors Dawn CapitalDealroom has a profile for this one. Try Dealroom →, MMC Ventures, and Tera VenturesDealroom has a profile for this one. Try Dealroom → participating.
What does Blackwall do? It builds web traffic security tools — bot mitigation, DDoS protection, web application firewalls, load balancing, and management of AI-agent traffic. Rather than selling directly to websites, it embeds its filtering inside hosting, cloud, and managed-service providers, which bundle and rebrand the tools for their own customers. The platform filters billions of requests a day for millions of sites.
Why now? More web traffic now comes from software than from people, and AI agents are making it harder to separate useful automation from scraping, abuse, and attacks. "A tsunami of agents will overwhelm infrastructure optimised for human traffic," said Norman Fiore, general partner at Dawn Capital.
What's the money for? Blackwall will expand into 12 regions across North America, Europe, Asia-Pacific, and the Middle East, and build new security tooling for hosting providers. The company says its valuation has quadrupled since a €45 million round in 2025.
What's the endgame? The pitch to hosting companies is practical: filtering junk requests before they reach a server cuts infrastructure costs, while bundling security into hosting plans adds a new revenue line. "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," said Warda Shaheen, general partner at AVP.
What could go wrong? The valuation sits in the top 10% of all-time Series C rounds in security, against a sample of 756 deals. Bigger players are moving in — Cloudflare already offers paid controls for AI crawlers — and Blackwall must show its channel model can scale to support the premium price.
The signal: Blackwall's raise puts a price on a channel-first security model aimed at the agentic web. The bet is that, as agents increasingly browse and transact on behalf of users, the firm sitting at the front door of millions of sites becomes essential infrastructure.
Read more: TechCrunch, Tech.eu, businesswire.com, Tech Funding News
Image credit: NeoSpire
