Cybersecurity co Armis raises $300m at $3.4b valuation

Yevgeny Dibrov and Nadir Izrael Photo: PR

The Israeli company's valuation has more than tripled in value since it was acquired by Insight Partners at a valuation of $1.1 billion in January 2020.

Israeli security platform provider Armis today announced the completion of a $300 million investment round at a valuation of $3.4 billion from One Equity Partners and existing investors. The company's valuation has increased 70% since its last financing round in February 2021 and more than tripled since control of Armis was acquired by Insight Partners at a valuation of $1.1 billion in January 2020. The company is still managed by cofounders CEO Yevgeny Dibrov and CTO Nadir Izrael.

The new funds will be used for further strategic platform development, global marketing initiatives, and to support future acquisitions. OEP will also be joining the board of directors.

Dibrov said, "One Equity Partners is the exact type of investor we need at this juncture. They deeply understand our sector and their acquisition expertise will help support us in achieving our expansion goals and objectives."

Over the past 3 years, the company's revenue has risen 8,826%. Armis provides complete visibility, vulnerability detection, and risk management to all assets across the IT, enterprise, medical, operational technology, ICS, IoT, and IIoT environments.

Izrael added, "Armis continues expansion into Healthcare, Federal, SLED, and OT sectors in addition to our traditional IoT, IT, Medical, and Enterprise services and capabilities. The investment by One Equity Partners will fuel platform development, regional expansion, and an enhanced go-to-market team. We are winning market share in all our new verticals and have become the leading cybersecurity player when it comes to seeing all assets and devices."

Published by Globes, Israel business news - en.globes.co.il - on November 29, 2021.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2021.

Yevgeny Dibrov and Nadir Izrael Photo: PR
Yevgeny Dibrov and Nadir Izrael Photo: PR
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