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Cybersecurity firm Armis has secured $435 million in a Series D funding round, catapulting its valuation to $6.1 billion and underscoring investor confidence in its asset intelligence platform amid rising threats to connected devices. The investment, led by General Catalyst with participation from Sequoia Capital and existing backers like Andreessen Horowitz, was announced on Wednesday, bringing Armis’s total funding to over $1 billion. The capital will fuel expansion of its AI-driven solutions for securing the exploding Internet of Things (IoT) ecosystem, as organisations grapple with vulnerabilities in everything from medical devices to industrial sensors.
Armis, founded in 2015, specialises in agentless cybersecurity that discovers, monitors and protects unmanaged assets without requiring software installations. With cyber attacks on IoT devices surging 150% year-on-year, according to recent industry reports, the company’s technology has gained traction among Fortune 500 firms in healthcare, manufacturing and critical infrastructure. CEO Ron Gula described the funding as “a vote of confidence in our vision to make the invisible visible,” noting plans to double its workforce to 800 employees and accelerate global R&D.
Strategic Growth and Market Context
The round comes at a pivotal moment for cybersecurity, where the global market is projected to exceed $300 billion by 2028, driven by AI-enhanced threats and regulatory mandates like the EU’s NIS2 Directive. Armis’s platform leverages machine learning to provide real-time visibility and automated responses, addressing gaps in traditional endpoint security that overlook “shadow” devices. Recent integrations with partners like Microsoft Azure and AWS have expanded its reach, enabling seamless deployment in hybrid cloud environments.
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This infusion positions Armis to challenge incumbents such as CrowdStrike and Palo Alto Networks, particularly in the burgeoning $50 billion IoT security segment. The company’s recent acquisition of the IoT division from Phosphorus Cybersecurity further bolsters its portfolio, adding specialised protections for legacy systems. Investors highlighted Armis’s 300% year-over-year revenue growth and its role in mitigating high-profile breaches, such as those exploiting unpatched smart building controllers.
Challenges remain, including talent shortages in AI cybersecurity and evolving attack vectors like ransomware targeting supply chains. Armis has pledged to invest in ethical AI development, aligning with broader industry calls for responsible innovation.
As November’s tech funding accelerates—from quantum computing SPACs to AI infrastructure deals—Armis’s raise exemplifies the sector’s resilience. With pilots in smart cities and autonomous vehicles underway, the firm is poised to capitalise on the convergence of IoT and AI, potentially redefining enterprise defence strategies.
