Armis, a rising star in the cybersecurity landscape, has announced a successful $200 million Series D funding round, elevating its valuation to $4.2 billion. This financial boost, led by General Catalyst and Alkeon Capital, is set to empower Armis in expanding its product offerings, pursuing strategic mergers and acquisitions (M&A), and enhancing its presence in the federal market. Co-founder and CEO Yevgeny Dibrov emphasized the critical nature of operational technology (OT) and medical device security, citing a pressing market demand for robust cybersecurity solutions in these sectors.
Founded in 2015, Armis has quickly established itself as a leader in cyber exposure management, boasting a diverse portfolio that includes asset management, IoT security, and threat intelligence. The company aims to innovate and scale its vulnerability management capabilities to meet the evolving needs of its clients. With nearly 700 employees and a track record of significant funding rounds, including a $300 million Series C round in 2021, Armis has demonstrated its ability to grow even amid challenging economic conditions.
Dibrov highlighted the company’s strategy for M&A, focusing on acquiring firms that exhibit cultural alignment and technical expertise. This approach aims to enhance Armis’ capabilities in response to client demands while mitigating the lengthy timelines often associated with in-house development. Notably, Armis has already made two acquisitions this year, including Silk Security for $150 million, showcasing its commitment to bolstering its security offerings in critical markets.
Looking ahead, Armis plans to leverage its new funding to refine its go-to-market strategy, particularly within government sectors, as well as to address the increasing need for streamlined vulnerability management across various systems. The company has made significant investments in research and development to ensure compliance with government requirements, including achieving FedRAMP certification. Dibrov’s hands-on approach, characterized by regular communication with customers, underscores Armis’ dedication to aligning its products with real-time market needs, ensuring the company remains at the forefront of cybersecurity innovation in an ever-evolving landscape.
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