Israeli cybersecurity company Armis has announced the closing of a $125 million financing round led by Brookfield Asset Management at a company valuation of $2 billion. This latest financing round comes a year after US venture capital firm Insight Partners acquired control of Armis for almost half the current valuation - $1.1 billion.
Existing investors took part in the latest financing round including Insight and CapitalG, Alphabet's growth and new investor fintech investment Georgian also participated. The latest financing round brings to $300 million the amount raised by Armis.
Armis is developing an agentless device security platform. The company was founded in 2015 by CEO Yevgeny Dibrov, CTO Nadir Izrael, and Tomer Schwartz who is no longer with the company. Despite being acquired by Insight last year, Armis remains as an indedpendently managed company with 350 employees at its Palo Alto headquarters and Tel Aviv development center.
Dibrov and Izrael told "Globes" that they weren't looking for any investment funds but received an offer that they couldn't refuse. Dibrov said, "This is not a classic venture capital fund. Brookfield manages assets worth about $600 billion including companies in a range of areas such as energy, healthcare and real estate. Some of these companies are our customers and through them Brookfield understood that we are the leading solution in the market and they decided to join as a strategic partner."
Published by Globes, Israel business news - en.globes.co.il - on February 9, 2021
© Copyright of Globes Publisher Itonut (1983) Ltd. 2021