Blackwall Raises €45M to Shield SMBs from Online Threats

Estonia-based cybersecurity startup Blackwall (formerly BotGuard) has raised €45M in Series B funding, led by Dawn Capital with participation from MMC Ventures.

Blackwall helps small and mid-sized businesses (SMBs) defend against malicious online traffic — from DDoS attacks to ad fraud — threats that can cripple smaller companies. Its flagship product, GateKeeper, uses AI to analyze and filter harmful requests in real time, keeping websites and e-commerce platforms secure.

Since launching in 2019, Blackwall has scaled rapidly by partnering with 100+ hosting and service providers, protecting over 2.3M websites and apps worldwide. With a team of 65, the company now plans to double its headcount and expand into the U.S. and APAC markets.

The startup’s new name is inspired by Cyberpunk 2077, where “the Blackwall” is a digital barrier against rogue AIs — a fitting nod for a company on a mission to keep the internet safe for SMBs.