Israeli cybersecurity company ARMIS SECURITY Today it announced the completion of a $200 million Series D funding round, bringing its valuation to $4.3 billion. This is $900 million higher than the previous funding round less than three years ago.
The latest financing round was led by General Catalyst and Alkeon Capital, with participation from new investors Brookfield and Georgian and existing investors Insight Partners, CapitalG and One Equity Partners.
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Armis was founded by CEO Yevgeny Dibrov and CTO Nader Israel and currently has 750 employees in Israel and around the world.
The company works in the growing field of protecting organizations with critical infrastructure such as manufacturing plants, hospitals, airlines and energy facilities. Its clients include United Airlines, Colgate-Palmolive and Mondelez, the parent company of Oreo, Milka and Toblerone, to which it provides transparency and security for all assets such as production lines, medical devices, cloud infrastructure, computing and software codes.
The latest funding round comes shortly after Armis announced it had crossed the $200 million annual recurring revenue (ARR) threshold and following two successful acquisitions this year of Silk Security and CTCI.
Aiming for an IPO
In its most recent funding round in November 2021, Armis raised $300 million at a company valuation of $3.4 billion. Son has increased its valuation since the peak years of the Covid pandemic, although there has been a significant slowdown in the pace of growth in valuation that has characterized the market for several years. PitchBook reports that the company’s valuation tripled between February 2020 and November 2021 from $1.1 billion to NIS 3.4 billion.
Armis now says it is aiming for an IPO and that its next milestone will be an ARR of $500 million.
Published by Globes, Israel Business News – en.globes.co.il – on October 28, 2024.
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