Enterprise IoT Security Firm Armis Raises $65M

Israeli IoT security platform Armis announced recently that it raised $65 million in a Series C funding round led by Sequoia Capital, with participation from Insight Venture Partners and Intermountain Ventures joining. Return investors included Bain Capital Ventures, Red Dot Capital Partners, and Tenaya Capital.

Carl Eschenbach, partner at Sequoia, will be joining Armis’ board of directors.

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. Armis’ security solution analyzes and classifies these devices in order to identify risks or potential cyber attacks..

The company said it will use the Series C funds to accelerate investments in sales, marketing and engineering, adding that over the past year it has seen 700 percent growth in annual revenue with deployment in some 25 percent of Fortune 100 companies. Its customers include Mondelēz, Sysco Foods, Allergan and Samsung Research America.

Armis is headquartered in Palo Alto, California and Tel Aviv, and has raised $112 million in total funding so far.