Cyber Startup Armis Security Raises $200M At $4.2B Valuation

Cybersecurity agency Armis Security closed a $200 million Collection D led by Alkeon Capital and General Catalyst.

The spherical boosts the corporate’s valuation almost 25% to $4.2 billion. The San Francisco-based startup final raised  a $300 million personal fairness spherical in 2021 led by One Equity Partners at a $3.4 billion valuation.

The Collection D additionally included participation from current traders Brookfield Growth and Georgian.

The brand new money comes simply after Armis stated it had surpassed $200 million in annual recurring income — rising ARR by a further $100 million in lower than 18 months.

The corporate is focusing on an IPO in 2026, per Bloomberg.

In 2020, Insight Partners purchased a big stake within the startup.

Industrial safety

Armis is one in every of a handful of corporations that performs within the industrial safety — additionally known as operational expertise safety — and IoT safety areas.

Cyber corporations assist corporations defend giant property like manufacturing services and vitality infrastructure. Nevertheless, securing older industrial management methods that had been designed a long time in the past — lengthy earlier than cyberattacks had been a actuality — have confirmed tough to construct.

The sector sometimes sees an ebb-and-flow of funding curiosity, however 2024 has been good for startups within the sector.

Earlier this 12 months, New York-based Claroty secured $100 million in strategic debt/credit score financing led by Delta-v Capital, and San Francisco-based Nozomi Networks locked up a $100 million Collection E from traders together with Mitsubishi Electric and Schneider Electric.

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Illustration: Dom Guzman