It’s official! Armis, an Israeli internet of things IoT company, is now a super unicorn with a $3.5 billion valuation. Armis hit this milestone after bringing in $300 million in new funding led by One Equity Partners. The news comes as Armis looks forward to holding its initial public offering IPO.
The new funding comes just nine months after Armis first hit unicorn status with a $2 billion valuation. Part of the reason for its jump in valuation in so short of a period of time has to do with what is described as a massive increase in the company’s sales.
The company’s clients include Rolls Royce, Expedia, General Electric, Philips, NASDAQ, Accenture and Discount Bank. The company’s offices are located in Tel Aviv, New York, Arizona, Kyiv, and Tokyo.
Armis was founded in 2015 by Yevgeny Dibrov, Nadir Izrael and Tomer Schwartz (who is no longer in the company). Dibrov and Izrael met during their military service, although they served in separate units – both graduates of Unit 81 (The Technological Unit of the Intelligence) and cybersecurity elite 8200.
Later, the two studied together Computer Science at the Technion’s Outstanding Program and integrated into the high-tech industry. Dibrov as the first employee in Adallom and was involved in security for cloud computing systems. Adallom was sold to Microsoft. Izrael led Google’s autocomplete engine technical team, “Google Suggest.”
Aramis, which is cloud-based and does not require local server installation, enables users to discover and analyze all network-connected IoT devices.
“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 Co-Founder, Armis. “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 is the industry leader when it comes to asset visibility and security,” said Ori Birnboim, Managing Director, OEP. “We see a growing need for enterprises in a unified offering, and we are excited to work together with our partners to further accelerate the growth trajectory of the company and safeguard assets around the world.”