# Wallarm

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wallarm

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.wallarm.com
- Total disclosed funding: $40M
- Latest round: Series C (Jul 31, 2025)
- Investors on record: 5

## About

Wallarm, Inc. offers advanced API security solutions, focusing on protecting application programming interfaces through comprehensive platforms that address vulnerabilities and ensure secure data handling across industries.Founded in 2013, Wallarm, Inc. is based in San Francisco, US, and specializes in API security solutions that protect against vulnerabilities. The company has successfully completed 6 deals, with the most recent funding round occurring on August 21, 2023, during which it raised USD 9.16 mn in Series B funding, bringing the total amount raised to USD 9.16 mn and achieving a current valuation of USD 35.89 mn. The company was founded by Stephan Ilyin and is currently led by CEO Ivan Novikov.Wallarm specializes in advanced API security solutions, delivering a platform that includes API Attack Surface Management and Web Application and API Protection (WAAP). These products provide real-time blocking, automated security testing, and threat detection, catering to sectors such as technology, healthcare, fintech, and eCommerce. Wallarm's customer base includes organizations aiming to mitigate API vulnerabilities, with deployments primarily in cloud environments like AWS, Google Cloud Platform (GCP), and Azure within North America and Europe.Wallarm's revenue model is based on subscription services for its API security offerings. Clients engage in multi-year agreements that provide comprehensive support and updates. The company's main products, including the API security platform and WAAP, form the basis of these subscriptions, which are tailored for B2B clients and allow scalability based on the number of APIs or applications requiring protection.In August 2023, Wallarm, Inc. raised USD 9.16 mn in Series B funding, part of a larger USD 18.04 mn round. The company plans to utilize this funding to enhance its existing platform and introduce new products tailored to evolving security threats. Additionally, Wallarm aims to expand into new geographic markets, specifically targeting regions in Europe and Asia by the end of 2024.

## Funding rounds

- Series C, Jul 31, 2025, $31M — Toba Capital
- Series A, Oct 22, 2018, $8M — Partech Partners, Y Combinator, Toba Capital, Gagarin Capital
- Seed, Aug 23, 2016, $0.1M — Y Combinator
- Seed, Nov 6, 2013, $0.5M — Runa Capital

## Investors

- Runa Capital (https://capitalatlas.ai/funds/runa-capital) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- Partech Partners (https://capitalatlas.ai/funds/partech-partners) — Series A
- Toba Capital (https://capitalatlas.ai/funds/toba-capital) — Series A, Series C
- Gagarin Capital (https://capitalatlas.ai/funds/gagarin-capital) — Series A