Armis, an Israeli cybersecurity operator, has ascended to a valuation of US$6.1 billion after the latest financing round led by Goldman Sachs Group Inc (NYSE: GS).
The US$435-million-dollar pre-IPO financing round, completed on Nov. 7, also saw participation from Evolution Equity Partners, Alphabet venture arm Capital G and a cohort of pre-existing investors.
Founded in 2016, Armis serves over 40 per cent of Fortune 500 companies with its services. Colgate-Palmolive Co (NYSE: CL), PepsiCo Inc (NASDAQ: PEP) (ETR: PEP) and United Airlines Holdings Inc (NASDAQ: UAL) are a few examples.
The company has developed a cybersecurity system that can monitor and protect every device connected to a particular network, essentially. Armis is also known to provide its services to the U.S. Department of Defense, American universities, healthcare providers and other organizations of scale.
“This milestone reflects the belief our investors have in our mission to protect our customers’ most critical environments across every asset,” said CEO and co-founder, from information technology and internet of things to operational technology, medical devices, cloud and code.”
Tel Aviv and Palo Alto-based Armis is shooting to complete its initial public offering by the end of next year or in 2027 if that doesn’t come to fruition.
In August, the tech startup revealed that its recurring annual revenue has surpassed US$300 million. Armis is aiming to boost that number to US$1 billion, a priority that is currently higher on the company’s list than the upcoming public launch. Armis has become a takeover target for at least seven firms to date, according to Bloomberg data.
Dibrov and co-founder Nadir Izrael (CTO) are veterans of Israel’s elite cyber intelligence unit: Unit 8200. They are also alumni of the Technion – Israel Institute of Technology in Haifa.
Several other cybersecurity startups with links to Israel’s intelligence apparatus have emerged within the past few years. Daylight Security, Malanta, Vega, Reflectiz, CyberRidge and Cyvore are among them. These companies specialize in artificial intelligence-driven threat detection, encryption technology, defense against malicious AI software and protecting clients against phishing and ransomware attacks.
Israeli cybersecurity firms raised nearly US$4 billion throughout 2024.
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