Armis raising hundreds of millions at over $5 billion valuation
Thoma Bravo expected to join funding after cyber unicorn surpasses $300 million in ARR. "It is true that we are receiving many investment offers - dozens of them. These discussions are ongoing, and as always, once there is something concrete to share, we will update you right away," CEO Yevgeny Dibrov wrote in an email to employees.
Cybersecurity unicorn Armis Security is in advanced negotiations to raise hundreds of millions of dollars in capital at a valuation of over $5 billion. The round will include a significant secondary component for the company’s investors and employees. Thoma Bravo is expected to be among the participating investors.
Armis Security at a crossroads: IPO, capital raise, or strategic sale?
The company recently completed a secondary round at a $4.5 billion valuation from Georgian, which had invested in previous rounds. Calcalist has learned that hundreds of veteran Armis employees in Israel and abroad participated in that secondary round, rather than founders or outside investors.
In an email to employees on Monday, CEO Yevgeny Dibrov, said: "It is true that we are receiving many investment offers - dozens of them. These discussions are ongoing, and as always, once there is something concrete to share, we will update you right away."
Armis was previously valued at $4.3 billion in its October 2024 funding round, when it raised $200 million. The current negotiations represent an increase of roughly $900 million in valuation compared to that round. 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.
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Armis currently generates about $300 million in annual sales and is targeting an IPO in 2026.
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 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.
