Armis employees sell $100M in shares as valuation rises to $4.5B

Armis has completed a $100 million secondary round with funding from G Squared and Georgian, which also invested in the company’s previous rounds. Calcalist has learned that this secondary round was aimed entirely at allowing hundreds of veteran employees in Israel and around the world to sell shares, rather than acquiring shares from investors or founders.

The company’s valuation after this secondary stands at approximately $4.5 billion, slightly higher than its $4.3 billion valuation in its funding round in October 2024, when it raised $200 million. The 2024 raise was led by General Catalyst and Alkeon Capital, with participation from Brookfield and Georgian, who joined existing investors including Insight Partners, CapitalG, and One Equity Partners.

Over the past year, Armis has experienced significant growth, driven by several strategic acquisitions: In March 2025, it acquired Israeli company Autorio for around $120 million. Autorio specializes in protecting industrial systems and cyber-physical environments and is already generating meaningful revenue for Armis. In April 2024, Armis acquired another Israeli startup, Silk Security, for $150 million. Silk developed a platform for managing cyber threat exposure and prioritizing risks; Calcalist has learned that Silk’s operations, which initially generated several hundreds of thousands of dollars, are now generating tens of millions in revenue. In February 2024, Armis also acquired American company CTCI for about $20 million; CTCI focuses on detecting cyber threats using AI tools.

In this latest secondary round, hundreds of Armis employees sold about 15% of their holdings, echoing a similar secondary sale the company carried out in April 2024.

The company announced last October that its annual revenue was $200 million, but Calcalist has learned that by the end of 2024, its sales exceeded $250 million and are expected to grow well beyond that by the end of this year. Based on current growth and market conditions, Armis is widely expected to pursue an IPO in 2026, by which time its revenue is projected to reach around $500 million.

Founded in 2016 by Yevgeny Dibrov (CEO) and Nadir Izrael (CTO), Armis employs about 850 people in Israel and worldwide. Its customer base includes major global players such as the United States Postal Service, United Airlines, Colgate-Palmolive, and Mondelez, the parent company of brands like Oreo, Milka, and Toblerone. Armis’ platform helps organizations monitor, secure, and manage their most critical assets, across IT, OT, medical devices, cloud environments, code, and software.