Cybersecurity company Armis’s safety closed a $200 million Series D led by Capital of Alkeon AND Generic catalytic converter.
The round raises the company’s valuation by almost 25% to $4.2 billion. The San Francisco-based startup last raised a $300 million private equity round in 2021, led by: One capital partner at a valuation of $3.4 billion.
Existing investors also participated in the D series Brookfield’s rise AND Georgian.
The recent money comes just after Armis said it had exceeded the amount 200 million dollars in annual recurring revenue – an additional $100 million in ARR growth in lower than 18 months.
The company’s goal is an IPO in 2026, in keeping with Bloomberg.
In 2020 Insight partners bought large shares in a startup.
Industrial safety
Armis is one of the few firms involved in industrial security – also often known as operational technology security – and IoT security spaces.
Cyber firms help firms protect large assets resembling manufacturing plants and energy infrastructure. However, securing legacy industrial control systems that were designed many years ago – long before cyberattacks became a reality – has proven difficult to build.
The industry often sees an ebb and flow of investment interest, but 2024 was a good 12 months for startups in this sector.
Based in New York earlier this 12 months Claroty secured $100 million of led strategic debt/credit financing Delta-v Capitaland based in San Francisco Nozomi Networks closed $100 million Series E from investors incl Mitsubishi Electric AND Schneider Electric.