Cyber company Armis has reached a total company valuation of $4.2 billion after closing a $200 million investment round.
With the Series D round of investment, Armis will continue its five-year plan of building a multi-generational cybersecurity company through global go-to-market programs, product innovation and inorganic growth opportunities, Armis announced Monday.
Yevgeny Dibrov, CEO and co-founder of Armis, said, “My Co-founder Nadir Izrael and I are incredibly grateful for the support of General Catalyst and Alkeon Capital as well as Brookfield and Georgian.”
“Their investment and belief in Armis’ future reflect the strength of our platform and the market need for a comprehensive Cyber Exposure Management platform — from asset management and Cyber-Physical systems security to Remediation of vulnerabilities and issues from IT to cloud and the CI/CD pipeline. We remain confident that this is just the beginning for Armis, and we look forward to delivering on our vision of a safer digital world,” Dibrov added.
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Armis’ New Investors
New investors General Catalyst and Alkeon Capital join existing investors, including Insight Partners, CapitalG, Georgian, Brookfield Technology Partners and One Equity Partners.
Mark Crane, a partner at General Catalyst, and Abhi Arun, a managing partner at Alkeon Capital, expressed their excitement about the investment.
“We see Armis as a powerful force in cybersecurity, with tremendous potential to scale rapidly and drive meaningful innovation in the industry,” Crane stated. “We are excited to support them on their path to becoming a public company.”
“With a proven track record and rising demand for its solutions, Armis is uniquely positioned to redefine industry standards in the cybersecurity market. We’re excited to collaborate with Armis as it accelerates on its remarkable upward trajectory,” Arun noted.
New Investment Goals for Armis
This new round of funding comes after Armis surpassed the $200 million annual recurring revenue, or ARR, mark, growing ARR by an additional $100 million in less than 18 months.
Armis is also targeting a future initial public offering, with a set milestone of reaching the $500 million threshold on the journey to $1 billion ARR.