Armis Security, a cybersecurity startup specializing in protecting industrial and IoT environments, has successfully raised $200 million in a Series D funding round.
Led by Alkeon Capital and General Catalyst, the round marks a significant leap for the San Francisco-based company, boosting its valuation by nearly 25% to reach $4.2 billion. This funding round also saw continued support from investors such as Brookfield Growth and Georgian.
Founded to address security challenges for operational technology (OT) and Internet of Things (IoT) systems, Armis has rapidly gained attention in the cybersecurity landscape. The company’s solutions cater to industrial operations and critical infrastructure, including manufacturing facilities, energy plants, and other sectors reliant on older control systems that are often difficult to secure against modern cyber threats. As more companies seek to safeguard these legacy systems, demand for specialized cybersecurity solutions like Armis’s has risen sharply.
Armis’s growth trajectory has been impressive, particularly with its recent financial milestone of surpassing $200 million in annual recurring revenue (ARR), a figure that doubled in less than 18 months. This rapid growth comes at a time when the cybersecurity market for industrial and IoT applications is experiencing renewed investor interest. Other companies in the sector, such as Claroty and Nozomi Networks, have also secured substantial funding to bolster their offerings.
Armis is now setting its sights on a public listing, with an IPO targeted for 2026. The startup first attracted attention in 2020 when Insight Partners acquired a substantial stake, helping drive the company’s expansion and innovation. The recent Series D funding will be directed towards scaling Armis’s solutions, increasing its workforce, and enhancing its platform capabilities to meet the complex security needs of OT and IoT environments.
With this latest round, Armis stands as a key player in the industrial cybersecurity field, providing specialized solutions to protect assets from cyber threats and bridge the gap for legacy systems that were never designed with cybersecurity in mind. Positioned at the intersection of industrial and digital security, Armis Security is poised to continue its upward momentum as companies seek more robust, adaptable protection for their most critical infrastructures
