Armis Raises $200M at $4.2B Valuation as Growth Soars, Eyes IPO

SAN FRANCISCO – October 28, 2024 – Armis, the cyber exposure management & security company, announced today the close of a $200 million Series D round of investment, increasing its total company valuation to a new high of $4.2 billion. Armis’ latest funding round was led by both top-tier investors General Catalyst and Alkeon Capital, along with existing investors Brookfield Growth and Georgian.

The additional capital will enable Armis to continue with its 5-year strategy to build a multi-generational cybersecurity company, fuel strong organic product innovation and global go-to-market programs, while simultaneously taking advantage of game-changing inorganic growth opportunities that may arise.

Armis’ ability to offer unmatched visibility, security, and risk management to enterprises across all industries has made it a standout leader in the fast-evolving cybersecurity landscape. As the trusted cybersecurity partner of the world’s largest organizations, including United Airlines, Colgate-Palmolive, Mondelez, Reckitt, and more, Armis’ innovative platform, Armis Centrix™, enables companies to see, secure, and manage their most critical assets in real time — from IT, OT, and medical devices to cloud, code, and software assets.

This new round of funding comes after Armis recently announced it had surpassed the 200 USD million in Annual Recurring Revenue (ARR) mark, growing ARR by an additional 100 million USD in less than 18 months. The company is targeting a future IPO, and building a multi generational company with the next major milestones being reaching the $500M ARR milestone along the journey to $1 billion ARR and beyond.

Jonathan Carr, CFO of Armis, highlighted the company’s focus on growth and a firm commitment to Armis customers: “We are excited about the addition of General Catalyst and Alkeon Capital to our amazing investors and strategic partners. Armis’ history of rapid and global scaling highlights the growing need for organizations to drive toward an asset centric approach to cybersecurity. This new funding will allow us to continue that rapid pace of value creation for our customers and shareholders, further highlighting our relentless commitment to innovation on our platform and to customer satisfaction that will continue driving our growth for many years to come.”

Mark Crane, Partner at General Catalyst shared his enthusiasm 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. We are excited to support them on their path to becoming a public company.”

Abhi Arun, Managing Partner at Alkeon Capital echoed these sentiments: “We are proud to invest in Armis at this pivotal stage of its growth. 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.”

As the cybersecurity industry continues to face increasingly complex challenges, Armis’s unique approach to Cyber Exposure Management makes it an indispensable partner for enterprises seeking to secure and manage their critical assets. By delivering comprehensive visibility, prioritization, and remediation capabilities, Armis ensures that organizations can stay ahead of the growing threat landscape.

General Catalyst and Alkeon Capital are joining existing investors that include Insight Partners, CapitalG, Georgian, Brookfield Growth, and One Equity Partners.