Armis Eyes IPO After $200 Million Funding Round

Armis has closed a $200 million funding round, increasing the cybersecurity provider’s valuation to $4.2 billion.

Armis also says it’s targeting a future IPO. General Catalyst and Alkeon Capital led the Series D funding round, along with existing investors Brookfield Technology Partners and Georgian.

Armis said the funding round will allow it to continue its five-year strategy to build a multigenerational cybersecurity company, generate organic product innovation and global go-to-market programs, while simultaneously taking advantage of inorganic growth opportunities.

This new funding round comes after Armis recently announced it had surpassed $200 million in annual recurring revenue (ARR). The company doubled its ARR in less than 18 months. growing it by an additional $100 million.

Armis’ Next Milestone Post-Funding Round

Armis’ next major milestone is reaching $500 million in ARR along the journey to $1 billion ARR and beyond.

Armis' Yevgeny Dibrov

“My co-founder, Nadir Izrael, and I are incredibly grateful for the support of General Catalyst and Alkeon Capital, as well as Brookfield and Georgian,” said Yevgeny Dibrov, Armis’ CEO and co-founder. “Their investment and belief in Armis’ future reflect the strength of our platform and the market need for a comprehensive cyber exposure management platform, from asset management and cyber physical systems security, to remediation of vulnerabilities and issues from IT to cloud and the continuous integration/continuous delivery (CI/CD) pipeline. We remain confident that this is just the beginning for Armis, and we look forward to delivering on our vision of a safer digital world.”

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Armis’ growth has been driven by its AI-powered cyber exposure management platform, Armis Centrix, which has been adopted by 35 of the top Fortune 100 companies, Armis said. Increasing demand from national, state, local and federal entities has led to increased deployment of Armis’ solutions globally.

“We see Armis as a powerful force in cybersecurity, with tremendous potential to scale rapidly and drive meaningful innovation in the industry,” said Mark Crane, partner at General Catalyst. “We are excited to support them on their path to becoming a public company.”

“With a proven track record and rising demand for its solutions, Armis is uniquely positioned to redefine industry standards in the cybersecurity market,” said Abhi Arun, Alkeon Capital’s managing partner. “We’re excited to collaborate with Armis as it accelerates on its remarkable upward trajectory.”