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# Blackwall raises $100M to become Estonia's latest (official) unicorn
- URL: https://fomo.observer/blackwall-raises-100m-to-become-estonias-latest-official-unicorn/
- Published: 2026-10-20T07:44:38.000Z
- Updated: 2026-10-20T14:47:37.000Z
- Author: Fiona Alston
- Tags: News, Funding

Blackwall, the Estonia-based firewall company has raised a $100 million Series C round at a $2.2 billion valuation. The round was led by AVP, who join existing investors Dawn Capital, MMC Ventures and Tallinn-based Tera Ventures. Tera Ventures still holds the largest [investment ticket](https://www.unicorns.ee/c/14847036?from=ecosystem&ref=fomo.observer).

Blackwall (formerly known as BotGuard) was founded in 2019 by Nikita Rozenberg (CEO) and Denis Prochko (CTO). 

“Nik and Denis combine real grit, deep technical knowledge and a rare grasp of where the opportunity lies and how to capture it. Blackwall, now protecting millions of websites, is exactly the kind of born-global company Tera exists to back. We were their first believers, backing them from day one through the early years of building the product and winning its first partners and customers. This round shows we’re far from the last,” said Stanislav Ivanov, Founding Partner, Tera Ventures. 

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

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.

![](https://storage.ghost.io/c/08/7f/087f88ab-cb17-44cc-928d-9cfca14a3fb9/content/images/2026/10/Blackwall-co-founders---l-r--Denis-Prochko-and-Nik-Rozenberg.png)

Denis Prochko and Nikita Rozenberg, Blackwall's founders

"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."

### TopTech listing

Previously touted as one of Estonia’s newest unicorns due to its results in the [TopTech list](https://fomo.observer/blackwall-toptech/), this funding round confirms it as it joins [Skeleton Technologies](https://fomo.observer/skeleton-technologies-becomes-estonias-latest-unicorn/) in the coveted rankings. 

Blackwall achieved a €1.03 billion valuation in the TopTech 2026 rankings, riding a massive wave of global consolidation in the cybersecurity sector which made it Estonia’s latest billion-euro tech firm on paper. 

The AI-enabled security and web infrastructure company, which raised a €45 million Series B last year to protect small and medium-sized businesses from malicious online traffic, saw its valuation surge 368% from roughly €221 million the previous year.

Its $2.2 billion valuation blows that news out the water now.