Cybersecurity Startup Armis Raises $200M Series D, Eyes IPO 

Armis has closed a $200 million funding round, increasing the cybersecurity provider’s valuation to $4.2 billion, $1.3 billion more than what it was worth following its last funding round in 2021.  

General Catalyst and Alkeon Capital led the Series D funding round, along with existing investors Brookfield Technology Partners, Georgian, Insight Partners, CapitalG, and One Equity Partners. 

The Armis platform enables businesses to monitor, secure, and manage their vital assets, which include IT and OT systems, medical devices, cloud infrastructure, and software. 

This new round of funding comes after Armis surpassed the $200 million annual recurring revenue, or ARR, mark, growing ARR by an additional $100 million in less than 18 months.  Armis is also targeting a future initial public offering, with a set milestone of reaching the $500 million threshold on the journey to $1 billion ARR. 

Founded by Yevgeny Dibrov, CEO, and Nadir Izrael, CTO, Armis currently employs around 750 people globally, including in Israel. The company’s clients include United Airlines, Colgate-Palmolive, and Mondelez, the parent company of Oreo, Milka, and Toblerone. 

In April, Armis paid $150 million for Silk Security, a platform for prioritizing and remediating cyber risks. This transaction followed its February acquisition of Cyber Threat Cognitive Intelligence for about $20 million.