The company will use the new funding to fuel a three-year plan that includes reaching $1 billion in annual recurring revenue and preparing for an IPO, it said in a Wednesday (Nov. 5) press release.
Armis recently surpassed $300 million in ARR, according to the release.
The company will also use the funding for continued product innovation, go-to-market expansion and strategic acquisitions, per the release.
“This round marks another defining moment in our journey to build a category-defining cybersecurity company,” Armis CEO and co-founder Yevgeny Dibrov said in the release. “Our growth proves that organizations are embracing a unified, exposure-based approach to security, and the round signals investors’ belief in Armis as a leader in cybersecurity.”
Armis was valued at $4.2 billion in an October 2024 funding round in which it raised $200 million.
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The company was founded in 2016 and has worked with more than 40% of Fortune 100 companies, including seven Fortune 10 companies, according to the release.
It has worked with organizations around the world, including manufacturers, airlines, financial services firms, healthcare institutions, and state and federal agencies, per the release.
Irit Kahan, managing director in growth equity at Goldman Sachs Alternatives, which led the round, said in the release that Armis is “a truly differentiated cybersecurity platform with exceptional growth momentum.”
“We believe the platform is redefining cyber exposure management by providing a comprehensive and unified layer of visibility, turning blind spots into sources of intelligence,” Kahan said.
When Armis surpassed $300 million in ARR in August, it said it had grown from $200 million in ARR in less than 12 months.
The company attributed its growth to increasing demand for cyber exposure management and cyber physical systems security.
“Surpassing another $100 million milestone in ARR so quickly proves we have the right platform, the right set of products and our customers are using Armis for complete cyber risk exposure management and security,” Dibrov said at the time in a press release.
Armis has also expanded its capabilities through acquisitions. The firm acquired OTORIO, a provider of operational technology and cyber physical systems security, in March; Silk Security, a platform for cyber risk prioritization and remediation, in April 2024; and CTCI, a company specializing in AI-powered pre-attack threat hunting technology, in February 2024.
