Enterprise IoT security company Armis launched from stealth today with $17 million in funding from Sequoia Capital and Tenaya Capital. Armis has developed a technology platform that allows enterprises to see and control compromised and unmanaged devices and rogue networks accessing their systems, effectively eliminating the IoT security blind spot that exists in all businesses today.
In early deployments Armis has shown that businesses are unaware of 40% of the devices in their environment. They have limited visibility into which devices are accessing their networks, which exposes them to botnet attacks, network breaches, ransomware, and data loss.
Armis provides an agentless IoT security platform that gives enterprises a complete view into activity and threats on devices and networks. Frictionless to deploy, Armis integrates with existing IT infrastructure and gives businesses visibility into and management over any device, whether on or off the corporate network. With Armis, enterprises are able to gain the productivity benefits of using IoT devices without sacrificing security.
"Enterprise security has a huge blind spot," said Yevgeny Dibrov, CEO and co-founder of Armis. "The recent botnet attacks like Mirai, Hajime, and Persirai show how new IoT devices are being exploited and attacked. The fact is you cannot put an agent on most of the devices in an organization today, which means we need a new approach. We built Armis to give enterprises complete visibility into all devices in their environment without requiring an agent. We can stop devices from compromising corporate assets, regardless of whether those devices are managed by IT."
Founded in late 2015, and headquartered in Palo Alto, California, with offices in Tel Aviv, the Armis team is comprised of top engineering talent from Israel and experienced Silicon Valley technology leaders. Armis CEO and co-founder Yevgeny Dibrov was on the executive team at Adallom, which was acquired by Microsoft in 2015. He served with co-founder and CTO Nadir Izrael in the elite Unit 8200 of the Israeli Defense Forces.
Gili Raanan, general partner at Sequoia Capital, was the first to partner with Armis, and Tom Banahan, managing director at Tenaya Capital, joined to close this round of investment. Additional investors include Zohar Zisapel, founder and chairman of RAD Technologies; René Bonvanie, CMO of Palo Alto Networks; and Mickey Boodaei, founder of Imperva and Trusteer.
"The exponential growth of IoT introduces risk that most enterprises are not prepared to handle," said Gili Raanan of Sequoia Capital. "Yevgeny and Nadir's strong vision combined with their decision to blend top Israeli engineering talent with sales and marketing executives from Cylance, Intel, McAfee and Symantec set them up for success."
Published by Globes [online], Israel business news - www.globes-online.com - on June 6, 2017
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