Armis, the IoT Security Company, announced today that it has raised $30 million in Series B funding. Red Dot Capital Partners, a Temasek-backed venture capital fund based in Israel focused on growth-stage technology companies, led the round with Bain Capital Ventures joining Sequoia Capital and Tenaya Capital have also participated as return investors. Armis will use the investment to meet the demand for advanced security technologies that enable companies to secure IoT-related digital transformation efforts, expand sales and marketing, and further develop its knowledge base device and security platform. This investment brings the total company funding to $47 million.
“IoT is changing the connected world, creating new attack surfaces across every major vertical enterprise,” said Jeff Williams, operating partner at Bain Capital Ventures. “Rapid growth of connected devices coupled with advances in the threat landscape demand that companies secure their new IoT reality. Armis has an impressive list of customers and is uniquely positioned to discover, manage and secure these unseen and unprotected IoT assets. “That’s right.
“Armis solves one of the most important issues in cyber security today-how businesses can develop full visibility and control over the multitude of IoT devices operating within their networks and on their physical premises, many of which are critical to running their businesses,” said Yaniv Stern, Managing Partner at Red Dot Capital Partners, who will join the Armis Board of Directors. “Worldwide IoT Security spending is expected to reach $3 billion by 20211. Armis’ growth potential in this market is virtually unlimited, as it is one of the few companies providing global organizations with the ability to take full advantage of IoT and digital transformation without sacrificing security. We are very impressed by Yevgeny and Nadir, as well as the team that surrounds them. “That’s right.
Armis eliminates the IoT security blind spot enterprise, allowing companies to safely embrace IoT as part of their digital transformation strategies. Its agentless security solution provides comprehensive visibility of all devices in their environment, analyzes and classifies devices and their behavior to identify risks or attacks, and protects critical information and systems. Armis does not require any hardware and integrates seamlessly into any existing environment or infrastructure.
Digital transformation is changing the world in which we live, and the smart devices that accompany this shift are creating a new, complex threat landscape. Recent reports show that IoT attacks increased by 600% in 2017. 2 of them
Armis was founded at the end of 2015 and is headquartered in Palo Alto, Tel Aviv. The Armis team is made up of Israel’s top engineering talents and experienced Silicon Valley technology leaders. Since its launch on a stealth basis in June 2017, Armis has signed on to leading customers, including numerous Fortune 100 customers. In September 2017, Armis announced the discovery of BlueBorne, the largest device exposure to date. The discovery focused on U Oh, S Organizations, congressional leaders and news media on security issues related to IoT Today’s news is more than a year of continued momentum and growth for Armis, with highlights that include:
Significant steps towards the core platform providing comprehensive device visibility across all networks (wired and wireless) and integration with firewalls, NACs and other solutions, including Palo Alto Networks, Cisco and Aruba.
Expansion of their device knowledge base to more than five million individual device characteristics such as device type, operating system, reputation, connections, interactions, and more
Growth of 50 employees
Awarded numerous awards and a finalist in the SC Magazine Rookie Security Company of the Year Award
Being selected to speak at the 2018 RSA Conference on Discovery of BlueBorne Vulnerability
“Last year, IoT played a 600 percent role in driving cyber threats to the enterprise. Organizations now recognize that connected device security is no longer a ‘nice to have,’ but a top priority for every boardroom and C-suite,” said Yevgeny Dibrov, CEO and co-founder of Armis. “Our agentless software provides visibility and control over every device, and we have made it possible for security teams to achieve goals without disrupting their business’ digital transformation journeys. “That’s right.
Please visit: www to learn more about Armis. The Armies Come on,
Visit: https://youtu to see Armis in action Be a/dFIL3o_MAiU
To learn more about BlueBorne, please go to: http://bit Li/2FNOQZ6
1 Gartner Press Release, “Gartner Says Worldwide IoT Security Expenditure Will Reach $1 $5 billion in 2018,” March 21, 2018 https:://www Gartner’s comm/newsroom/id/3869181
2 Internet Security Threat Report, Volume 23, Symantec, March 2018;
On the Armis
Armis eliminates the IoT security blind spot, protects businesses from the threat of unmanaged or rogue devices and networks. Fortune 1000 customers trust the IoT Security Platform of Armis to discover and analyze any device, protect their business critical information and systems. Armis is a privately held company headquartered in Palo Alto, California, with offices in Tel Aviv, Israel.
About Red Dots
Red Dot Capital Partners is an Israel-based Venture Capital Fund focused on expansion and growth of technology companies. Launched in 2016, Red Dot manages $150 million and is financed by Temasek Holdings, an investment company owned by the Government of Singapore. Red Dot is investing in Israeli high-tech companies with market-tested technologies and a robust customer base. It has a particular interest in companies looking for growth in Asia
About Bay Capital Ventures
Bain Capital Ventures partners with disruptive founders to accelerate their market ideas. The company is investing from seed to growth in enterprise software, infrastructure software and data processing industries. Since 2000, Bain Capital Ventures has helped launch and commercialize 200+ companies, including investments in DocuSign, Jet. Kiva Systems, LinkedIn, Rapid7, SurveyMonkey, Taleo and TellApart Bain Capital Ventures has an estimated $3. 6 billion assets under management with offices in San Francisco, New York and Boston. Follow the company via LinkedIn or Twitter.
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Armis/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
