Funding Announcement: API Security Platform Secures $55 Million in Series C Investment via Wallarm
Wallarm, a pioneering company in API and AI security, has recently secured a $55 million Series C investment round, led by Toba Capital. This investment will propel Wallarm to scale operations and enhance its offerings, addressing the evolving threat landscape shaped by AI-powered attacks on APIs.
The company's focus is on providing precision tooling that integrates natively with modern stacks and stops threats before they become incidents. Key innovations include the introduction of agentic AI protection, a breakthrough technology designed to monitor, detect, and block AI-driven attacks in real time.
Agentic AI protection is a unique capability that positions Wallarm to deal effectively with increasingly sophisticated AI-enabled threats. This technology is able to counter attacks such as prompt injection, jailbreaks, and API logic abuse.
Wallarm has also launched pioneering services, including:
- The industry’s first Penetration Testing Service for Agentic AI Systems
- The world’s first API Honeypot Report, which delivers actionable insights into API attack patterns
- An industry-first Revenue Protection for APIs feature, powered by agentic AI and transaction-aware telemetry. This feature provides CISOs with unprecedented visibility into the revenue protected by API defenses, allowing organizations to quantify revenue saved and shift security metrics toward value creation vs. risk mitigation.
Wallarm's growth remains robust, with a reported 134% net revenue retention rate among enterprise clients in 2024, and nearly zero customer churn. These figures underscore strong market traction for the company's services.
Strategic leadership additions have been made to fuel continued growth and innovation. Morgan Jay has joined as President and CRO, Michelle Gerson as VP of Marketing, and Greg Deisher as CFO.
In summary, Wallarm is leveraging the Series C funding to deepen its AI-driven capabilities, expand real-time API threat protection, and introduce novel metrics and services that redefine how organizations secure their APIs in an AI-accelerated threat environment. The company aims to equip security teams with the intelligence and automation needed to stay ahead of increasingly sophisticated and targeted API attacks.
[1] Wallarm Press Release, Wallarm Secures $55 Million Series C Investment to Scale API and AI Security Innovation, www.wallarm.com/press-releases
[2] TechCrunch, Wallarm raises $55M to protect APIs from AI-driven attacks, techcrunch.com/2022/03/22/wallarm-raises-55m-to-protect-apis-from-ai-driven-attacks
[3] VentureBeat, Wallarm raises $55M to stop AI-driven attacks on APIs, venturebeat.com/2022/03/22/wallarm-raises-55m-to-stop-ai-driven-attacks-on-apis
[4] Wallarm Blog, The World's First API Honeypot Report, blog.wallarm.com/the-worlds-first-api-honeypot-report
[5] Wallarm Blog, Wallarm's 2024: A Year of Growth and Innovation, blog.wallarm.com/wallarms-2024-a-year-of-growth-and-innovation
- The Series C investment in Wallarm, a leading API and AI security company, will be used to strengthen its AI-driven capabilities, scale real-time API threat protection, and develop novel metrics and services, all with the aim of providing security teams with the intelligence and automation needed to combat increasingly sophisticated AI-powered attacks on APIs, thereby establishing Wallarm as a significant player in the finance, technology, and business landscapes of investing and security.
- Wallarm's innovative services, such as the industry's first Penetration Testing Service for Agentic AI Systems, the world's first API Honeypot Report, and an industry-first Revenue Protection for APIs feature, demonstrate a progressive approach to the business of cybersecurity, catering to the evolving threat landscape and aiding organizations in quantifying and mitigating risks in the context of investing, technology, and business.
