Armis, a cyber systems developer for IoT, raises $ 300 million from One Equity Partners at a value of $ 3.4 billion

by time news

The current fundraiser will take place eight months after a $ 2 billion fundraiser * Yevgeny Dibrov, CEO and co-founder of Armis: More market. Our growth capacity depends on the recruitment of brilliant employees in Israel and the continuation of world-leading technological innovation. ”

The cyber company Armis announces today the closure of a new investment round and an increase in the company’s value to $ 3.4 billion. This is eight months after raising $ 125 million at a value of $ 2 billion. To date, the company has raised a total of $ 600 million, all of which went into the company’s coffers. The current fundraiser is led by the Private Equity Fund One Equity Partners (OOP), In collaboration with existing investors. Andrew Dunn, a partner in OEP will join the company’s board of directors. The company will continue to operate independently under the full management of its two founders, CEO Yevgeny Dibrov, Chief Technology Officer Nadir Jezreel, and the company’s management.

Among the company’s prominent investors are Insight Partners – which will continue to control Armis; Brookfield Tech Partners — the growing investment arm of Brookfield Asset Management; Capital G Alphabet Independent Growth Fund; and- Cyberstarts. Allegro Microsystems, a global chip company with a market capitalization of about $ 6 billion, will be the first company in OEP’s portfolio to deploy Armis’ protection across its networks.

The entire fundraising amount will go into the company’s coffers, which plans to acquire innovative companies in its areas of activity, expand its marketing and sales systems and increase the number of employees by 50% in the coming year. The company currently employs about 500 employees.

In the last three years, Armis has increased its revenues by a whopping 8,826%, and is now one of the fastest growing cyber companies in the world. The factors that enable this tremendous growth are an increase in the rapidly growing market share in which the company operates, and expansion to verticals and other areas. Deloitte recently ranked Armis among the 25 fastest growing technology companies in North America 2021 Deloitte Technology Fast 500 ™.

Armis protects more than a billion connected devices, and is the only cyber company to build a broad platform that provides full mapping, vulnerability identification and risk management for all assets in a wide range of industries such as: computing, enterprise applications, medicine, operational technology, industrial control systems (ICS), IoT , IIoT, and OT. Armis was ranked as a leader in OT security by Gartner’s Market Guide, as a leader in OT security by ISG, and recently received the highest marks in the MITER ATT & CK Evaluations in Industrial Control Systems (ICS) for its ability to provide 100% visibility in both IT and In OT.

According to IDC by 2025 there will be more than 40 billion devices connected to the Internet. Armis provides an end-to-end holistic solution for every possible device, with EDR and Firewall protections protecting only Windows computers and servers and these make up only 10% of the market. The market in which Armis operates is worth more than all of these markets combined.

This is the first time that a cyber protection company has reached such proportions, among other things because it is the first to provide a unified platform for diverse areas such as: critical infrastructure – oil pipelines, power plants, water, electricity; Health organizations – Armis protects the largest hospitals in the world, including three of the five largest hospitals in the United States; IoT Security; Device protection and management of their weaknesses; Disclosure of information security gaps in the organization’s assets and instruments.

In the field of health, in which Armis is a leading player, health organizations are facing significant threats that are only growing. Since the outbreak of the corona was first treated in a hospital in Germany as a result of a cyber attack, a lawsuit has been filed against a hospital in the US in which a baby died as a result of a cyber attack, and Hillel Yaffe Hospital has struggled to this day. The corona has also increased the need for remote diagnosis, treatment and hospitalization – and hospitals are facing the need to secure devices that are not in their physical territory at all, with this need only growing with the acceleration of this trend.

Yevgeny Dibrov, CEO and co-founder of Armis: “We are building a blue-and-white global cyber giant, which is growing rapidly, so all the fundraising money will go into the company and be used for accelerated expansion, in order to capture additional market shares. Our growth capacity depends on the recruitment of brilliant employees in Israel and the continuation of world-leading technological innovation. ”

Nadir Jezreel, VP of Technology and co-founder of Armis: “We continue to move towards building a huge company, so we decided to put all the money into the company’s coffers without a second, and support this goal. Armis continues to expand in the federal, local government and education industries, in addition to its traditional areas of activity in IoT, IT, medicine and organizations. We are increasing our market share in all the new verticals we have entered, and now Armis is the leading player in cyber security when it comes to being able to see all the assets and devices in the organization. ”

Uri Birnbaum, Managing Partner, OOP: “Armis is the leading company in the industry when it comes to visibility and property security. We are witnessing the growing need for organizations in unified solutions, and are excited to work with Armis on the continued accelerated growth of the company and asset protection worldwide. ”

Andrew Dunn, CEO OOP: “OEP and Armis identify great value in the rapid deployment of industry-leading asset security capabilities across all global companies in OEP’s portfolio. We plan to leverage our experience in the cyber security industry to help Armis also expand rapidly in asset security through strategic acquisitions. ”

Armis is ranked as the leading platform provider by industry analysts. Through the Armis Partner Experience Program (APEX), the company collaborates with the world’s leading organizations, including Crowdstrike, IBM, Fortified Health, OWC, Checkpoint, Accenture, Gigamon, Optiv, Cappajmini, MCloud, Deloitte, Cyvatar and hundreds of other companies. In the world. More information about the Global Partners can be found here.

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