Wallarm, a Moscow, Russia-based developer of solutions to protect online businesses from application-level attacks by hackers, raised $500k in seed funding.
Runa Capital made the investment. In conjunction with the funding, Runa’s investment director Dmitry Galperin joined Wallarm’s board.
The company intends to use the funds to further product development and transition from service to product business model.
Led by Ivan Novikov, CEO and co-founder, Wallarm organically combines vulnerability assessment and management with WAF (web application firewall) within one product to provide a web security solution to protect online businesses from application level hackers attacks.
It targets cliends with hi-loaded web-projects in e-commerce, SaaS/PaaS, big data, news media, communication and online payments markets.