Driven by AI Expansion, Wallarm Closed 2024 with Record Growth and Retention of 134% Across Enterprise Accounts

API security leader adds new President and Global CRO to support future growth

SAN FRANCISCO, April 10, 2025 /PRNewswire/ -- Wallarm, the leader in API and AI security solutions, today announced strong 2024 results with exceptional growth and retention, fueled by the need for real-time blocking of API attacks in the enterprise market segment. With a significant increase in customer retention and global expansion across industries, including airlines, finance, banking, energy, retail, and software, Wallarm remains the vendor of choice for effective API and Agentic AI security.

To address new opportunities and support the company's rapid growth, Wallarm strategically expanded its leadership team, bringing on Morgan Jay as President and Global CRO. Jay's previous experience at organizations like Imperva and Pentera, and specifically in leading cybersecurity companies to $100M in ARR, is critical to supporting Wallarm's growth trajectory.

"I'm thrilled to join this exceptional team where we will focus on driving global expansion while ensuring we continue to delight our valued customers," said Jay. "Wallarm is uniquely positioned to deliver on API security and the coming wave of AI security."

Wallarm is the only platform for API and Agentic AI security that can effectively block attacks in real-time, and the only API security product that has been deployed in production for more than five years. Recognized for its capabilities in real-time detection and response critical in today's cybersecurity landscape where swift action against threats is needed to prevent attacks, Wallarm has built and nurtured a strong, loyal customer base spanning across industries.

"We had a banner year in 2024 with unprecedented growth and retention across our customer base," said Ivan Novikov, CEO and Co-Founder of Wallarm. "A significant contributor to those outcomes is the result of enterprise adoption of AI, leading to an increasing diversity of industries using APIs. As the proliferation of AI continues to accelerate, Wallarm is strategically positioned to address the challenges brought on by AI with our team of 80-plus engineers, the industry's largest group dedicated to API security, who are committed to delivering robust protection to block attacks."

Wallarm's commitment to enterprise security is demonstrated through its record growth, customer retention, and industry recognition, with key highlights and achievements including:

• Achieved record Net Retention Revenue of 134% in enterprise accounts, driven by AI expansion and expanding API usage
• Nearly all customers (99%) successfully deployed in production, validating Wallarm's proven capabilities to help build API security programs aligned with business needs
• Grew employee base by 40% to meet the market demand

Additionally, Wallarm received multiple prestigious industry awards and recognition. Of particular note, the 2025 Cybersecurity Excellence Awards recognized Wallarm in three categories: API Security, API Abuse Prevention, and Application Security. The company was also a G2 Momentum Leader for Winter 2025 and included in the 2024 IT Harvest's Cyber150 list, which highlights the top 150 cybersecurity companies driving innovation and excellence.

For more information, visit https://www.wallarm.com/company.

About Wallarm
Wallarm is the only unified platform for API and agentic AI security successfully deployed in enterprise production environments. With Wallarm, customers receive the fastest, easiest, and most effective way to stop API attacks. Period. Organizations choose Wallarm to protect their APIs and AI agents because the platform delivers a complete inventory of APIs, real-time blocking, and patented AI/ML-based abuse detection. Wallarm is headquartered in San Francisco, California, and is backed by Toba Capital, Y Сombinator, Partech, and other investors.

Media Contact:
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SOURCE Wallarm