Runa Capital has made a USD 500,000 seed investment in Moscow, Russia-based web security solutions company Wallarm. The company's next generation platform provides protection to online businesses from hacking attempts. Proceeds from the transaction would be used to develop Wallarm in its transition to a product business model from a service model. Wallarm is working with public and private clouds, managed service providers, monitoring and log management systems, among others.
As part of the transaction, Runa Capital's Investment Director Dmitry Galperin would be joining the Board of Directors at Wallarm.
The team at Wallarm previously worked to give security audits to large US and European businesses as white hat hackers. Wallarm said its platform is better than others because it is smart. It has the capability to learn from application and the behavior of its users.
Citing data from the IDC, TechCrunch reported that the market for web security and vulnerability management is estimated to be worth USD 4 billion.
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