Wallarm, a leader in API and AI security, has secured $55 million in a Series C investment round led by Toba Capital. This funding will allow Wallarm to scale operations and enhance its offerings for API protection in the evolving AI landscape.
As AI changes the threat landscape, attackers can exploit vulnerabilities more rapidly and target a wider array of APIs. Traditional security tools are insufficient for these challenges, making real-time blocking essential—an area where Wallarm excels.
Last year, Wallarm reported record growth with a 134% net revenue retention rate among enterprise accounts across various sectors. This growth is fueled by rapid innovation, including the recent introduction of agentic AI protection, which defends against AI-specific attacks.
Recent highlights include:
– Key strategic hires: Morgan Jay (President and CRO), Michelle Gerson (VP of Marketing), and Greg Deisher (CFO).
– Launch of agentic AI protection capabilities to monitor and block AI-driven attacks.
– Introduction of the first Penetration Testing Service for Agentic AI Systems.
– Release of the world’s first API Honeypot Report, providing insights into API attack trends.
– Driven by AI expansion, Wallarm achieved significant growth in 2024, maintaining nearly zero churn.
KEY QUOTES:
“At Wallarm, our mission has always been clear: deliver powerful, proven API protection that actually stops real-world threats. This latest round of investment marks a pivotal moment—not just for our company, but for the security industry at large. We’re doubling down on innovation to equip security teams with the intelligence and automation they need to stay ahead of increasingly sophisticated and targeted API attacks. Our goal is to give security teams precision tooling that integrates natively with modern stacks, and stops threats before they become incidents.”
Ivan Novikov, CEO and co-founder of Wallarm
“Wallarm is shaping the future of API and AI security. The team has built an incredibly robust, high-performance platform that’s already proven in complex enterprise environments. As AI-powered attacks drive new demands for the API security category, this financing round will enable Wallarm to continue to transform the API security landscape with its unique focus on real-time protection.”
Vinny Smith, Founding Partner, Toba Capital
