April 9, 2018 | Israeli IoT security platform Armis announced Monday it has raised $30 million in a Series B funding round. The round was led by Israel-based VC fund Red Dot Capital Partners and California-based VC Bain Capital Ventures. Sequoia Capital and Tenaya Capital also participated in the round as returning investors Armis will use the investment “to meet demand for advanced security technologies that allow enterprises to secure IoT-related digital transformation efforts, expand sales, and marketing, and further develop its device knowledge base and security platform,” a statement said. Total funding for the company is now at $47 million. Founded in 2015 by Nadir Izrael, Tomer Schwartz, and Yevgeny Dibrov, Armis eliminates the enterprise IoT security blind spot, letting enterprises embrace IoT as part of their digital transformation and develop full visibility and control over the IoT devices that operate within their networks, critical to running their business. Armis’ security solution analyzes and classifies these devices in order to identify risks or potential cyber attacks. The company is headquartered in Palo Alto, California and Tel Aviv.