• Blackwall, deployed across 2.3M+ websites and applications, is an AI-enabled security and web infrastructure company dedicated to safeguarding web ecosystems from automated threats.
• Previously known as Botguard, Blackwall has secured a €45 million Series B funding round led by Dawn Capital, with participation from existing investors MMC. 
• Having already launched into the US and APAC, the company will use its new capital to double headcount as it expands further in these key markets, and invest in intense product development.

LONDON, March 13, 2025 /PRNewswire/ — Blackwall, the global AI-enabled security and web infrastructure company founded in 2019 by Nikita Rozenberg (CEO) and Denis Prochko (CTO), today announced that it has raised a €45 million Series B round led by Dawn Capital, Europe’s leading B2B investor.

Already deployed across more than 2.3 million websites and applications, Blackwall defends web ecosystems from malicious automated threats.

Around 50% of all global web traffic stems from bots, 66% of which is malicious. Traditional solutions are priced and designed for enterprises, leaving SMBs – subject to 43% of all cyber attacks – vulnerable.

Blackwall partners with Hosting Services Providers (HSPs), Managed Service Providers (MSPs) and eCommerce Platforms, which typically host thousands to hundreds of thousands of websites. This in turn protects the SMB customers that use Blackwall via their service and hosting providers.

Unwanted bot traffic throttles networks, and AI is driving the volume and sophistication of attacks HSPs and MSPs have to manage. This increases their costs while slowing down end customers’ sites. While big providers can afford to spend millions on in-house product development, many HSPs and MSPs need external support to deal with the problem.

Blackwall’s flagship product, GateKeeper, is an advanced reverse proxy fortified with next-generation bot and attack detection mechanisms. It proxies requests to hide servers from bots and hacker attacks, allowing HSPs and MSPs to reduce operational costs by up to 25% as they maximise server farm user density, and helps maximise revenue for these providers which underpin operations for millions of SMBs worldwide. Blackwall helps HSPs/MSPs increase margins by growing revenue through scalable, high-value security services that attract new customers and open additional, recurring income streams.

“Blackwall has only scratched the surface of the US and APAC opportunity” – Norman Fiore, General Partner, Dawn Capital

Led by Dawn Capital, with participation from existing investors MMC, Blackwall’s Series B funding will be used to double headcount and accelerate growth as the company expands further into the U.S. and APAC, and strengthens global channel partnerships.

Nikita Rozenberg, Co-Founder & CEO, commented: “With Blackwall, we are taking our mission to the next level—delivering gold-standard infrastructure protection to SMBs that have traditionally been overlooked. This funding enables us to scale globally and continue innovating for the businesses that need it most.”

Norman Fiore, General Partner, Dawn Capital commented: “It is rare to see a business targeting SMBs which has such a broad offer, of which each component is best of breed. Blackwall’s innovative technology provides exactly that.”

“Nik and Denis have devised a winning, channel-first strategy for their excellent product, and relentlessly executed on their bold vision. Blackwall has only scratched the surface of the expansive opportunity in North America and APAC, and we are confident that the company is uniquely positioned to transform how SMBs access advanced security solutions. We’re thrilled to be supporting the team as they further scale and pioneer a new approach to infrastructure protection.”

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Mina Samaan, General Partner, MMC Ventures, said: “We have been impressed by Nik and Denis’s vision and execution from the start and we’re excited to back them again in this latest funding round. Blackwall’s approach—tackling malicious and useless traffic at the infrastructure layer—addresses a critical gap in the market, providing much-needed protection to hosting providers and smaller businesses. With the rise of AI-driven threats, Blackwall’s products have never been more essential, and we believe it will become a leading force protecting against bots and other digital threats.”

Blackwall also welcomes Norman Fiore, Co-Founder & GP at Dawn Capital, to its board, as well as Shamillah Bankiya, Principal at Dawn Capital. Roi Carthy, Co-Founder & CEO at Hudson Rock, will also join as Executive Chairman.

For further media enquiries please contact Jack Tunmore at jack@dawncapital.com

About Blackwall

Blackwall (formerly BotGuard), is an AI-enabled security and web infrastructure company dedicated to safeguarding web ecosystems from automated threats. Deployed across 2.3M+ websites and applications, GateKeeper, the company’s flagship product, is trusted by 100+ service & hosting partners globally to enhance performance, reduce operational costs, and maximize revenue by protecting SMB customers worldwide against emerging threats with simplicity, affordability, and scalability. Learn more at www.blackwall.com.

About Dawn Capital 

Dawn is Europe’s leading specialist B2B software investor, with assets under management of over $2bn. Dawn is primarily an early-stage investor, backing companies from Series A and B, and continuing to fund the top-performing through growth rounds to exit.  Its roster of investments includes Mimecast (formerly NASDAQ-listed, taken private by Permira in a $5.8bn transaction), iZettle (sold to PayPal for $2.2bn cash), Tink (purchased by Visa for $2.0bn), LeanIX (acquired by SAP), as well as current market leaders, Collibra, Dataiku, Quantexa, Soldo, and Copper, amongst others.

Dawn is currently investing from Dawn Capital V, the firm’s $620m fifth flagship fund, and Dawn Opportunities Fund, a $80m fund to enable Dawn to double down on its best performing companies to exit.

About MMC Ventures

MMC is a leading European venture capital firm with a research-driven approach. It invests in early-stage transformative technology companies that utilise AI and data science across sectors including enterprise AI, fintech, data-driven health and cloud & data infrastructure. Examples of companies MMC has backed include: Synthesia, Copper, Signal AI, Interactive Investor, Current Health, YuLife and Cloudsmith.

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• The 500 largest family businesses generate US$8.8t and employ more than 25 million people across 43 jurisdictions
• Nearly half participated in M&A activities in the last two years
• More than a third have a legacy extending beyond a century

LONDON, March 13, 2025 /PRNewswire/ — Family-owned enterprises continue to be a major driver of global economic growth. The world’s 500 largest family businesses generate US$8.8t in revenues – a 10% increase from the 2023 index – and employ 25.1 million people worldwide across 43 jurisdictions. The aggregate revenues of these businesses, if compared to GDP by country, equate to the world’s third largest economy, ranking behind only the US and China. These and other findings were published today in the 2025 EY and University of St.Gallen Global 500 Family Business Index, which is a biennial ranking of the 500 largest family businesses in the world by revenue.

Europe remains home to almost half (47%) of the companies on the index, with North America housing 29% and 18% being based in Asia. Regarding industry sectors, retail has the largest representation, leading with 20%. The second largest sector is consumer (19%), the third is advanced manufacturing (15%) and the fourth is mobility (9%).

Despite today’s challenging business environment, mergers and acquisitions (M&A) remain a cornerstone of growth and capital strategy for these types of companies with the top 500 well positioned to take advantage and seize opportunities. Forty-seven percent have engaged in one or more transactions in the last two years and of the disclosed deals 34% completed transactions exceeding US$250 million.

Seeking long-term value, being agile and having an innovative approach is what gives these businesses a strategic advantage and speaks to why 34% of the companies have more than a 100-year legacy and 85% have been operating for more than 50 years. At the top end of the spectrum, a Japan-based company has been running for more than 400 years, and two European companies have been operating for more than 300 years.

Lauri Oinaala, EY EMEIA Family Enterprise and EY Global NextGen Leader, says:

“It is remarkable how, amid notable market disruptions, the world’s leading family enterprises can shape their future for the better, combining a unique blend of long-term vision, resilience and drive toward sustainable growth. Their diverse capital sources and readiness for mergers and acquisitions enable them to seize strategic opportunities and navigate slower-growth periods.”

Thomas Zellweger, Professor from the Center for Family Business at the University of St.Gallen, says:

“Family-owned businesses have a remarkable ability to adapt and thrive in dynamic environments. The focus of family firms on their long-term survival, combined with high concern for efficiency and conservative financing practices, sets many of these firms up for continued success.”

Notes to editors

About EY

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

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Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

About EY Family Enterprise

EY teams are dedicated to supporting family enterprises in shaping their future with confidence. As trusted advisors to most of the world’s largest 500 family enterprises, EY teams have the experience and know-how to support you, your family, your business, and your investments. Our mission is to assist you to grow a more valuable enterprise, navigate disruptions, and manage successful generational transitions.

Through the EY Family Enterprise DNA Model, we focus on four strategic drivers for long-term success: business growth, company capitalization, generational transition, and shareholder liquidity. Our model is built on over 100 years of experience working with family enterprises like yours.

For more information, visit ey.com/familyenterprise

Lauren Mosery
EY Global Media Relations
+1 732 977 2063
lauren.mosery@ey.com

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HONG KONG and SHANGHAI, March 13, 2025 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”, HKEx: 2318 / 82318; SSE: 601318) took top spot in the Brand Finance Insurance 100 2025 ranking, for the ninth year in a row, boasting a brand value of US$33.6 billion. Brand Finance said that Ping An emerges as the sector’s most valuable brand. This resilience is attributed to its strong brand familiarity in China and steady growth in life, health, property & casualty (P&C) insurance and accidental injury insurance.

Brand Finance, a leading global brand valuation consultancy, also noted that Chinese insurance brands are making their mark on the global stage, driven by digital transformation, AI-driven innovation, and the expansion of 5G services. These brands continue to strengthen their market positions, with their strategic investments in technology and customer experience fueling brand growth.

Driven by customer needs, Ping An’s core businesses are showing stable growth. Ping An remains steadfast in its customer-centric approach, deepening its technology-driven “integrated finance + health and senior care” strategy and achieving stable growth in its core businesses. In the first three quarters of 2024, Ping An achieved an operating profit attributable to shareholders of the parent company of RMB113.82 billion, representing a 5.5% increase year-on-year (YoY), and operating revenue of RMB775.38 billion, a 10.0% increase YoY. The three core businesses – life and health insurance, P&C and banking – showed sustained growth, with combined operating profit attributable to shareholders of the parent company reaching RMB119.65 billion, an increase of 5.7% YoY. New business value (NBV) for the life and health insurance business reached RMB35.16 billion, up 34.1% YoY. Customers entitled to service benefits in the health and senior care ecosystem accounted for over 69.6% of the NBV of life insurance.

Ping An is building world-leading AI capabilities to drive sales, improve efficiency and control risks. Ping An is focusing research and development investment in cutting-edge technologies such as generative artificial intelligence (AI) large language models. As of the end of September 2024, Ping An had a world-class technology team of over 21,000 technology developers and over 3,000 scientists. The Group’s patent applications led most international financial institutions, totaling 53,521 by the end of September 2024. The number of Ping An’s generative AI patent applications ranked second globally^[1]. With five industry-leading laboratories and nine major databases, covering finance, healthcare, senior care and other fields, Ping An continues to adopt new technology-driven measures to promote sales, improve efficiency, and control risks. In the first three quarters of 2024, Ping An’s AI service representatives interacted with customers approximately 1.34 billion times, responding to queries and resolving consumer issues quickly. They covered more than 80% of the total customer service volume in that period. At Ping An Life, smart underwriting and smart claim settlement services resulted in 93% of life insurance policies underwritten in seconds, and claims closed in an average of 7.4 minutes. The Group also continued to improve its risk management, with claims savings via smart fraud risk identification amounting to RMB9.1 billion in the first nine months of 2024.

Ping An is promoting its “worry-free, timesaving, and money-saving” brand value proposition as it continues to enhance customer experience. Ping An works to make business as clear, simple and efficient as possible for customers. Ping An Auto Insurance covers 82 service items, including emergency assistance, annual inspection and designated driver services, making life simple for the 200 million users of the Ping An Auto Owner app. To save customers’ time, Ping An offers one-stop services, such as Ping An Life’s 1-1-1 Superfast Claim, with one-sentence reporting, one-click uploading, and one-minute validation. To save customers’ money, Ping An uses professional services to achieve wealth preservation and appreciation, meeting customers’ diversified needs. Ping An Bank’s Credit Card for Overseas Students integrates insurance, banking, healthcare and other resources, providing a variety of preferential discounts for education, shopping, and travel.

Ping An actively fulfils its social responsibilities and supports the development of the real economy. As of the end of June 2024, Ping An had cumulatively invested nearly RMB9.46 trillion to bolster the real economy, covering major national projects in energy, transportation, water conservancy, and other sectors. It also supported major strategic priorities such as the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area. As of the end of June 2024, Ping An’s responsible investment of insurance funds reached RMB799.90 billion, including RMB124.88 billion in green investments, RMB652.56 billion in social investments, and RMB22.46 billion in inclusive investments. In the first three quarters of 2024, Ping An’s green insurance premium income reached RMB37.34 billion, and its funding for rural industrial vitalization totaled RMB31.406 billion, provided to Ping An’s Rural Communities Support Program.

Brand Finance conducts first-hand research on over 6,000 corporate brands worldwide each year, engaging more than 175,000 respondents from 41 countries and regions. It defines brand value as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. The top five in the Brand Finance Insurance 100 2025 list are Ping An, Allianz (Germany), AXA (France), China Life, and Generali (Italy). This year, 13 Chinese insurance companies were included in the world’s top 100, with brand value accounting for 22.9% of the total value, ranking second globally by country.

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