Blackwall hits $2.2B valuation with $100M Series C just weeks after joining Estonia's unicorn club

Web traffic management platform Blackwall today announced it has raised $100 million in Series C at a valuation of $2.2 billion.

Last month it was reported that Blackwall reached a €1 billion valuation and ranked fifth in TopTech 2026, the annual ranking of Estonia's 30 most valuable tech companies.

AVP led the round, with participation from existing investors Dawn Capital, MMC Ventures and Tera Ventures.
The new round of financing accelerates Blackwall's objective to build a global traffic management ecosystem around its hosting-provider network.

By connecting providers, infrastructure and technology, Blackwall aims to provide greater control over how internet traffic is managed, secured and monetised.

Currently spanning bot mitigation, DDoS protection, web application firewall, load balancing, server-side encryption and management of agentic AI traffic, which is rapidly taking over the Internet, Blackwall is deployed inside the web hosting providers’ own infrastructure, identifying real visitors and legitimate automated traffic from malicious bots, attacks and traffic abuse, filtering billions of requests per day.

"The web is becoming more automated, more distributed and more complex, but the infrastructure that powers it remains highly fragmented," said Nikita Rozenberg, Co-Founder and CEO of Blackwall. "Our ambition is to build the traffic management ecosystem that brings those worlds together. This funding allows us to expand globally, deepen our platform and give hosting and infrastructure providers the technology they need to participate in the next generation of the web."

Blackwall partners with web hosting, managed service and cloud providers that run much of the web.

Hosting is a $200 billion market, and a fragmented one, because infrastructure has to stay close to the businesses it serves; for most of the web, the provider is the only route to a site at scale.

Unlike the hyperscale and content-delivery platforms that compete with providers for their own customers, Blackwall sits inside the provider's infrastructure and strengthens the relationship between the provider and the businesses it hosts.

"Blackwall has built something rare: a security company that grows with the internet itself," said Warda Shaheen, General Partner at AVP.

"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. That's why we're leading this round."

Norman Fiore, General Partner at Dawn Capital, commented:

“A tsunami of agents will overwhelm infrastructure optimised for human traffic. Nik and Denis are already delivering to their millions of customers the infrastructure optimised for the coming agentic web, and commercial success will flow to those businesses that are retooling today.”

Blackwall will use the investment to scale its global presence across the web traffic management market, establishing and expanding operations across 12 strategic regions spanning North America, Europe, Asia-Pacific and the Middle East.