Cyber Unicorn Armis Raises $200 Million

The Israeli-American scale-up Armis, specializing in cybersecurity solutions for businesses, announced on October 28, 2024, a Series D funding round of $200 million (184 million euros). The round was led by U.S. venture capital firms General Catalyst and Alkeon Capital, with support from Georgian and Canada’s Brookfield Asset Management. This funding brings Armis’s valuation to $4.2 billion (3.86 billion euros).

Founded in 2016, the unicorn offers a platform, “Armis Centrix,” that maps out an enterprise’s entire data and device ecosystem. This enables users to monitor their organization’s attack surface and manage cyber risks in real time. Armis’s clients include major economic players such as United Airlines, Colgate-Palmolive, and Mondelez.

This funding will allow the scale-up to expand internationally, particularly in Europe and the Middle East, and to support its external growth. In 2024, Armis has already acquired the Israeli start-up Silk Security for $150 million (138 million euros) and AI specialist CTCI for $20 million (18.4 million euros).

The scale-up surpassed $200 million (184 million euros) in annual recurring revenue in August 2024, a figure it aims to increase by 2.5 times by 2026. The unicorn is also considering a New York Stock Exchange IPO by that date.