Estonia-based Blackwall, which builds web traffic security tools for hosting providers, said on Tuesday that it has raised $100 million at a $2.2 billion valuation. It builds products that helps websites grapple with the skyrocketing volume of bot traffic, especially AI agents.

The Series C was led by AVP, with participation from existing investors Dawn Capital, MMC Ventures and Tera Ventures. Blackwall’s executive chairman, Roi Carthy, told TechCrunch this funding round increased the company’s valuation by 4 times since its previous fundraise in 2025.

Over the past few years, web infrastructure companies like Cloudflare, Akamai, Imperva and Blackwall have found themselves in an increasingly valuable but difficult space: They’re on the frontlines, dealing with DDoS attacks, indiscriminate scraping, botnet farms, malicious requests, and these days, even swarms of AI agents going rogue. But it’s also a chance to make a killing by helping hosting providers and websites deal with all the potentially unwanted traffic.

Blackwall, however, isn’t interested in competing with the bigwigs in its space. Instead of selling its platform directly to websites, the company uses a “channel” approach, working with web hosting, managed service and cloud providers to understand their needs, and then handing over a bundle of tools which they can customize. Those providers can then offer Blackwall’s security tools to their own clients under their own branding and retain control of that relationship.

There’s money in it for both sides. Co-founder and CEO Nikita Rozenberg told TechCrunch that hosting companies can mix and match security components to build their own solution according to what they want to provide to their end customers, set the prices, and share a cut of the revenue with Blackwall.

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