IoT Security Firm Armis Closes $300M Round At $3.4B Valuation

Israel’s Armis Security Announced on Monday it completed its latest round of funding, raising $ 300 million at a valuation of $ 3.4 billion.

US Private Equity Firm One Equity Partners (“OEP”) led the round, with the participation of existing investors, to accelerate the development of strategic platforms and global GTM initiatives, and to support future acquisitions. OEP will also join the board of directors.

“One Equity Partners is the exact type of investor we need right now. They deeply understand our industry and their acquisition experience will help us achieve our expansion goals and objectives, ”said Yevgeny Dibrov, CEO and co-founder of Armis. “We look forward to OEP joining our board and working with our group of investors to continue to scale and acquire a number of strategically important assets.”

Armis was founded in 2015 by Nadir Izrael, Dibrov, and Tomer Schwartz (who is no longer part of the company) and is headquartered in Palo Alto, California, and Tel Aviv. Armis says his solution eliminates IoT security blind spots, allowing companies to embrace IoT as part of their digital transformation and develop complete visibility and control over the IoT devices operating within their networks. Armis security solution analyzes and classifies these devices to identify risks or possible cyber attacks. The company’s clients include Mondelēz, Sysco Foods, Allergan and Samsung Research America.

The company, which is still managed by Dibrov and CTO, has more than tripled its valuation since it was acquired by New York-based firm Insight Partners in January 2020 for $ 1.1 billion.

“Armis continues to expand into the healthcare, federal, SLED and OT sectors, in addition to our traditional IoT, IT, medical and business services and capabilities. One Equity Partners investment will drive platform development, regional expansion and an enhanced go-to-market team, “Izrael said,” We are gaining market share in all of our new verticals and have become the leading player in cybersecurity. when it comes to viewing all assets and devices. “

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