Estonian cybersecurity startup BotGuard raises €12M

Estonian startup BotGuard, which developed cloud-based software to protect websites has raised €12M in an A Series. The investment round was led by London-based MMC Ventures, with participation from existing investors, Estonian Tera Ventures, and Polish Expeditions Fund. New investors included Swedish business angel Stefan Lindeberg.

Founded in 2019 by Nik Rozenberg and Denis Prochko, BotGuard has developed AI-powered software to protect websites from the risks posed by bots, which occupy nearly half of all internet traffic. BotGuard's software helps website owners control their web traffic, reduce website management costs, defend their infrastructure and protect their assets. The solution blocks “bad” bot traffic and allows unrestricted access to a website for human users, search engines, and affiliate automation tools.

BotGuard has customers and partners in more than 30 countries. The executive team includes industry veterans such as CRO Bertil Brendeke (ex-CloudFest, Acronis), COO Martin Pawliczek (ex-GoDaddy, Host Europe Group), and others.

The startup will use the investment to further develop its technology, hire new tech development employees, and expand its sales and marketing teams to further scale globally.

Based in Estonia, Tera Ventures invests out of €45M second fund in startups from the Baltics, Denmark, Sweden, Finland, Poland, and the Czech Republic. Founding partners are Andrus Oks and Stanislav Ivanov.