Estonia-based cybersecurity startup Blackwall has raised €45 million ($49.2M) in Series B funding to expand its AI-powered security solutions that protect small and mid-sized businesses (SMBs) from bot attacks, fraud, and malicious web traffic.
The round was led by Dawn Capital, with participation from MMC Ventures, which previously led Blackwall’s €12M Series A in 2024.
Defending SMBs Against Automated Cyber Threats
Blackwall, formerly known as BotGuard, specializes in real-time traffic analysis and attack prevention. Its flagship product, GateKeeper, is an AI-driven reverse proxy that:
- Detects and filters out malicious bot traffic, reducing ad fraud and security risks.
- Prevents DDoS attacks, credential stuffing, and web scraping.
- Automatically integrates with hosting providers, managed service platforms, and e-commerce sites.
CEO Nikita Rozenberg emphasized the company’s mission:
“Large enterprises can absorb cyberattacks, but SMBs often cannot survive them. The firm provides a seamless, automated solution to level the playing field.”
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Strategic Growth & Market Expansion
- 2.3 million websites & apps are already secured by Blackwall’s technology.
- 100+ enterprise partners, including web hosting providers and managed security firms.
- Expansion into the U.S. and APAC markets with this latest funding.
- Doubling headcount from 65 employees to support R&D and customer growth.
A Unique Approach to SMB Cybersecurity
Unlike enterprise-focused cybersecurity firms like Cloudflare or Imperva, Blackwall operates a “channel model”, working directly with hosting providers, payment processors, and e-commerce platforms to embed security solutions at scale.
Dawn Capital’s Josh Bell praised Blackwall’s approach:
“By integrating cybersecurity directly into SMB service providers, Blackwall is redefining how smaller businesses defend themselves against modern threats.”
With €45M in fresh capital, the company is set to scale its AI-driven security platform, ensuring SMBs can access enterprise-grade protection without the complexity of traditional cybersecurity solutions.
