Enterprise IoT security co Armis raises $65 million

Yevgeny Dibrov and Nadir Izrael Photo: PR

The C round was led by Sequoia Capital.

Israeli enterprise IoT security company Armis has raised $65 million in Series C funding, bringing the company’s total funding to $112 million. The round was led by Sequoia Capital, with participation from Insight Venture Partners and Intermountain Ventures joining. Bain Capital Ventures, Red Dot Capital Partners, and Tenaya Capital also participated as return investors. Carl Eschenbach, partner at Sequoia, joined the board of directors.

“IoT security has come of age, with CIOs and CISOs across industries prioritizing it as they realize the significant risk these connected devices pose,” said Yevgeny Dibrov, CEO and co-founder of Armis. “Our platform is purpose-built to address these new insecure endpoints, what we call ‘un-agentable’ devices. But beyond the technology, it’s how we partner closely with our customers to secure this new attack landscape.”

The company says it will use the Series C funds to accelerate investments in sales, marketing, and engineering, as it looks to expand the only effective cross-industry solution built to address the security exposures of Enterprise IoT devices.

“Armis offers companies unprecedented visibility across managed and unmanaged devices during a time when the number of IoT devices is exploding," Eschenbach said. "As every industry and market segment faces the issue of identifying and securing these devices, Armis is providing the best solution with their easy to install, agent-less platform. This, along with their incredible team and company culture, is why we’ve partnered with the company since the Series A in Israel and are thrilled to be part of this next phase of growth.”

Published by Globes, Israel business news - en.globes.co.il - on April 11, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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