IoT security company Armis raising $300 million at $3.5 billion valuation
The Israeli company increased its value by $1.5 billion in just eight months and is raising funds ahead of its U.S. IPO
Meir Orbach | 08:56 10.10.2021
Israeli IoT security company Armis is raising between $250-300 million at a valuation of $3.5 billion, Calcalist has learned. Most of the investment will come from a single new strategic investor, similar to the funding round in February of this year when Brookfield Technology Partners poured funds into the company. Calcalist has also learned that this is likely to be Armis' final funding round before it goes public in the U.S. Armis joins the likes of fellow Israeli companies Rapyd and Papaya Global who saw their valuation increase rapidly in a short time between funding rounds, not just due to excellent results, but also thanks to the fact that investors are willing to pay a premium to acquire a holding in these companies.
Armis has developed an agentless, enterprise-class device security platform designed to address the new threat landscape of unmanaged IoT devices. Armis was recognized as a leader in connected medical device security by Forrester, a leader in OT Security by ISG, as well as the 2021 IoT Security Company of the Year by IoT Breakthrough Awards, and named in the Gartner 2020 Market Guide for Medical Device Security Solutions.
Fortune 100 and Global 2000 enterprises across all verticals such as Mondelēz, Sysco, Fresenius, Home Depot, Oracle, and DocuSign rely on Armis to help protect their businesses.