I see the primary 'Advisor' to Wallarm is the primary author of Naxsi, so perhaps this is a commercialization of the Naxsi firewall product.
Glad you noticed it! Thibault Koechlin is a valuable advisor who shares his feedback about the product. Also, we'll hopefully give some talks at hacker conference soon.
But naxsi and wallarm are too different products; they still have something in common though (using of nginx e.g.)
NAXSI is a great tool to use! Always recommend it for companies who want to use only opensource and like NGINX. BTW, Thibault Koechlin, author of naxsi, is at Wallarm advisory board.