A $300 million funding round increased security platform provider Armis’ valuation to $3.4 billion, the company announced Monday. The firm plans to accelerate strategic platform development with the investment, along with supporting future acquisitions.
In conjunction with existing investors, the latest investment round was led by private equity firm One Equity Partners, which will also join Armis’ board of directors.
"One Equity Partners is the exact type of investor we need at this juncture. They deeply understand our sector and their acquisition expertise will help support us in achieving our expansion goals and objectives," said Yevgeny Dibrov, chief executive officer and Armis co-founder, in a statement. "We look forward to OEP joining our board and working with our investor group to continue to scale and to acquire a number of strategically important assets."
Armis provides visibility, vulnerability detection and risk management across multiple environments, including IT, enterprise, medical, operational technology, Internet of Things, ICS and IIoT. Allegro MicroSystems, which develops sensors and power semiconductor technology, will be the first company in One Equity Partner’s portfolio to deploy Armis protection in its network.
Over the last three years, Armis’ revenue has increased 8,826% and is one of the fastest-growing cybersecurity firms globally. Armis was the 25th fastest-growing technology company in North America in a recent ranking by Deloitte.