Armis raises $435 million at $6.1 billion valuation ahead of planned IPO

Armis, the Israeli-founded cybersecurity company, has raised $435 million in a new funding round at a valuation of $6.1 billion, marking one of the largest private financings in the sector this year.

Full list of Israeli high-tech funding rounds in 2025

The round was led by Growth Equity at Goldman Sachs Alternatives with major participation from CapitalG, and was joined by new investor Evolution Equity Partners, alongside several existing investors.

Armis co-founders.

The financing follows a secondary round completed in July, when Armis was valued at $4.5 billion, and a 2024 funding round valuing it at $4.3 billion. Most of the new capital will flow into the company, although some early investors sold small portions of their stakes for several million dollars. According to Calcalist, many shareholders declined to sell despite high offers.

Armis recently surpassed $300 million in annual recurring revenue (ARR) - a $100 million increase in under a year - driven partly by acquisitions, including that of Israeli company Autorio.

Founded in 2016 by Yevgeny Dibrov (CEO) and Nadir Izrael (CTO), Armis develops cybersecurity technology designed to secure critical infrastructure and give organizations real-time visibility and protection across their entire digital attack surface, from local networks to cloud environments. The company employs about 850 people in Israel and worldwide.

In an interview with Calcalist, Dibrov said the company’s ambition is to scale revenue aggressively toward an eventual public offering.

“We have crossed the $300 million mark, and investment and acquisition offers are constantly flowing to us,” said Dibrov. “Our goal is to reach $1 billion in ARR within three years, and to go public by the end of 2026 or 2027. To do that, we need to exceed $500 million in ARR with strong sales performance.”

He added that the company’s annual liquidity programs for employees have eased any pressure to sell shares prematurely.

“We wanted a strong investor for a pre-IPO round who would send a clear signal to the market, and there’s no stronger partner than Goldman Sachs,” Dibrov said. “They bring tremendous value and access, and it’s the right partnership for our next stage of growth. There were more than seven offers on the table, but we really connected with Goldman’s team in both Israel and the U.S.”

Dibrov said Armis expects to reach $500 million in revenue within 18 months, citing close relationships with customers and continued product expansion. He described himself as “very competitive,” noting that the company’s acquisition of Silk Security transformed annual sales for that product line from $600,000 to $40 million.

“We compete across every cybersecurity category, whether it’s Claroty, Axonius, or anyone else,” he said. “We continue expanding our portfolio to take on major players like Rapid7 and Tenable.”

Asked about the prospect of a full sale, Dibrov said it was never seriously considered.

“There were offers to buy large stakes in the company, but we like the way the board supports our growth, innovation, and ambition,” he said. “We need people who share our mindset.”

Goldman Sachs, which manages over $500 billion in alternative assets, has invested more than $13 billion through its Growth Equity fund since 2003, with a focus on technology and growth-stage companies.