Funding Secured: $55 Million Series C for API Security Infrastructure by Wallarm
Wallarm Takes the Lead in API and AI Security with $55 Million Investment
Wallarm, a pioneer in API and AI security, has announced a significant stride in its mission to safeguard businesses against increasingly sophisticated AI-driven API attacks. The company's latest development, the Agentic AI Protection, actively monitors, analyzes, and blocks such attacks, extending its existing API Security Platform with real-time protection capabilities [1][2][3].
This advancement comes on the heels of a successful $55 million Series C investment round, led by Toba Capital. This funding will enable Wallarm to scale its operations and enhance its API protection offerings in the evolving AI landscape [1].
Vinny Smith, Partner at Toba Capital, described Wallarm as shaping the future of API and AI security. The investment underpins strategic hires such as Morgan Jay (President and CRO), Michelle Gerson (VP of Marketing), and Greg Deisher (CFO), and their continued innovation, as exemplified by the launch of the first Penetration Testing Service for Agentic AI and the world's first API Honeypot Report [1][2].
The API Honeypot Report provides actionable insights into API attack trends, while the Penetration Testing Service for Agentic AI offers a comprehensive testing solution for AI-driven systems.
As AI continues to change 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, a strength of Wallarm [1][2][4].
Wallarm's platform, already proven in complex enterprise environments, is built to meet the new demands for the API security category as AI-powered attacks increase. The company's goal is to give security teams precision tooling that integrates natively with modern stacks and stops threats before they become incidents [1][2][4].
In addition to Agentic AI Protection, Wallarm launched its next-generation Security Edge product. Security Edge provides real-time API traffic visibility, multi-cloud availability, mutual TLS encryption, and free-tier access to facilitate reliable and secure API defense without increased complexity or cost [4].
Last year, Wallarm reported record growth with a 134% net revenue retention rate among enterprise accounts across various sectors [1]. The company maintains nearly zero churn due to significant growth driven by AI expansion [3].
Ivan Novikov, CEO and co-founder of Wallarm, stated that the latest investment round marks a pivotal moment for the security industry. Wallarm's focus on real-time protection is crucial in the face of the growing threat of AI-powered API attacks, signalling a shift in API security towards defending against the unique challenges posed by AI agents and automated threat actors [1][2][4].
[1] Wallarm Press Release: https://www.wallarm.com/press/wallarm-raises-55-million-to-lead-the-future-of-api-and-ai-security/ [2] Wallarm Blog: https://www.wallarm.com/blog/wallarm-raises-55-million-to-lead-the-future-of-api-and-ai-security/ [3] Wallarm Blog: https://www.wallarm.com/blog/wallarm-maintains-nearly-zero-churn-due-to-significant-growth-driven-by-ai-expansion/ [4] Wallarm Blog: https://www.wallarm.com/blog/wallarm-launches-next-generation-security-edge-product/
Financing the future of AI-driven API security, Toba Capital's $55 million investment in Wallarm will fuel the development of innovative technology solutions, bolstering the company's capabilities in the rapidly evolving landscape of cybersecurity. With strategic hires like Morgan Jay, Michelle Gerson, and Greg Deisher, Wallarm continues to invest in cutting-edge technologies such as the Penetration Testing Service for Agentic AI and the API Honeypot Report, ensuring its position at the forefront of API and AI security.
