Armis ropes in $65 Million in Series C Funding

IOT News

Armis-ropes-in-65-Million-in-Series-C-Funding Armis ropes in $65 Million in Series C FundingArmis, a Palo Alto, California-based enterprise-class security platform for a broad range of Internet-connected devices, as per recent reports, has raised $65 million in a Series C funding round, thus raising $112 million in total.

The recent Series C Funding round was led by Sequoia Capital, a Menlo Park, California-based venture capital firm, and was participated by Insight Venture Partners and Intermountain Ventures; along with returning investors, Bain Capital Ventures, Red Dot Capital Partners, and Tenaya Capital. Furthermore, Carl Eschenbach, a partner at Sequoia, will be joining Armis’ board of directors.

The Palo Alto-based Armis is renowned for its security platform that addresses the new threat management landscape of unmanaged and IoT devices. The company’s sensory tech is apt at identifying and analyzing all managed, unmanaged, and IoT devices—from traditional laptops and smartphones to new unmanaged smart devices like smart TVs, webcams, printers, HVAC systems, industrial robots, medical devices and more. Armis tech looks for devices both on and off the network, continuously analyzing endpoint behavior of these devices to pin-point associated risks, to avert attacks, and protect critical information and systems by quarantining the suspicious or malicious devices.

“IoT security has come of age, with CIOs and CISOs across industries prioritizing it as they realize the significant risk these connected devices pose,” stated Yevgeny Dibrov, CEO and co-founder of Armis. “Our platform is purpose-built to address these new insecure endpoints, what we call ‘un-agentable’ devices. But beyond the technology, it’s how we partner closely with our customers to secure this new attack landscape.”

Armis plans on using the recently obtained funding to further accelerate investments in sales, marketing, and engineering, thus expanding the first agentless only effective cross-industry solution that’s designed to address the security exposures of Enterprise-class IoT devices.

According to Carl Eschenbach, a partner at Sequoia: “Armis offers companies unprecedented visibility across managed and unmanaged devices during a time when the number of IoT devices is exploding. As every industry and market segment faces the issue of identifying and securing these devices, Armis is providing the best solution with their easy to install, agent-less platform. This, along with their incredible team and company culture, is why we’ve partnered with the company since the Series A in Israel and are thrilled to be part of this next phase of growth.”