Armis Secures $200M Funding, Eyes $500M ARR and IPO Aspirations!

Summary:

Armis Security raises $200 million in Series D funding, boosting valuation to $4.3 billion.
General Catalyst and Alkeon Capital lead the funding round with existing investors joining in.
Company surpasses $200 million in annual recurring revenue (ARR) and aims for $500 million.
Recent acquisitions include Silk Security for $150 million and CTCI for $20 million.
Armis is preparing for an IPO with plans to reach $1 billion in revenue.

Armis Raises $200 Million in Series D Funding

Armis Security, a leader in the cybersecurity space, has successfully completed a $200 million Series D funding round, elevating its valuation to $4.3 billion—a remarkable increase of $900 million since its last funding round less than three years ago. This funding round was led by General Catalyst and Alkeon Capital, with participation from existing investors such as Brookfield and Georgian, along with notable backers including Insight Partners, CapitalG, and One Equity Partners.

Armis co-founders

Company Overview

Founded by Yevgeny Dibrov (CEO) and Nadir Izrael (CTO), Armis currently employs around 750 people globally, including teams in Israel. The company boasts an impressive client roster that includes United Airlines, Colgate-Palmolive, and Mondelez, the parent company of well-known brands like Oreo, Milka, and Toblerone. The Armis platform is pivotal for businesses as it enables them to monitor, secure, and manage their critical assets, which range from IT and OT systems to medical devices and cloud infrastructure.

Recent Achievements

This latest funding comes on the heels of Armis announcing that it has surpassed $200 million in annual recurring revenue (ARR). The company has also made headlines with two strategic acquisitions in 2024: Silk Security and CTCI. Armis is now setting its sights on an IPO, with key milestones including reaching $500 million in ARR on its ambitious path towards $1 billion and beyond.

Acquisition Highlights

In April, Armis acquired Silk Security for $150 million. Silk specializes in sustainable cyber risk resolution and raised $12.5 million in Seed funding last August.
Earlier this year, Armis purchased CTCI (Cyber Threat Cognitive Intelligence) for approximately $20 million, a company known for its AI-driven pre-attack threat hunting technology.

Armis previously raised $300 million at a $3.4 billion valuation in November 2021, bringing its total funding to $600 million after its acquisition by Insight Partners and Google's Capital G for $1.1 billion in January 2020.

Source: CTech