Palo Alto, California, April 12, 2019: Armis, the enterprise Internet of Things (IoT) security company has raised US $65 million in Series C funding, bringing the company’s total funding to $112 million.
The new round was led by Sequoia Capital, with participation from Insight Venture Partners and Intermountain Ventures joining. Bain Capital Ventures, Red Dot Capital Partners, and Tenaya Capital also participated as return investors. Carl Eschenbach, partner at Sequoia, joined the board of directors.
The company will use the Series C funds to accelerate investments in sales, marketing, and engineering, as it looks to expand the only effective cross-industry solution built to address the security exposures of Enterprise IoT devices.
“As the first to partner with Armis, I saw the huge pain point they address and the leadership of Yevgeny and Nadir as a winning combination,” said Gili Raanan, Armis’ Chairman. “With their solid technology and customer deployments across 165 countries, Armis has become the defacto IoT security standard for hospitals, manufacturing, retail, tech, finance & banking industries.”
Armis claims to be the only enterprise-class agentless security platform to address the growing problem of unmanaged and unprotected IoT devices. Leveraging insights from its Cloud-based Device Knowledgebase, which monitors over 80 million devices worldwide, the Armis platform delivers comprehensive visibility of every device across an enterprise environment, analyses and classifies devices and their behavior in order to identify risks or attacks, and protects critical information and systems.