According to CNBC, cybersecurity startup Armis has raised a whopping $435 million in a funding round that values the company at $6.1 billion. Goldman Sachs Alternatives’ growth equity fund anchored the investment, with participation from Alphabet’s venture arm CapitalG. The company, which helps businesses secure internet-connected devices, has surpassed $300 million in annual recurring revenue. CEO Yevgeny Dibrov stated the primary goal is to hit $1 billion in ARR, with an IPO targeted for the end of 2026 or early 2027. This funding follows a $200 million round in October 2024 and comes less than a year after the company surpassed $300 million in ARR.
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The IoT security play
Here’s what Armis actually does. Basically, they focus on securing all the internet-connected devices that aren’t traditional computers – think everything from medical equipment and manufacturing robots to smart thermostats and security cameras. This space is exploding, and most of these devices weren’t built with security in mind. They’re often invisible to traditional security tools. Armis’s platform discovers these devices, assesses their risk, and helps protect them. It’s a massive problem that’s only getting bigger as more things get connected.
The path to IPO
What’s really interesting here is the timing and the players involved. Goldman Sachs Alternatives leading this round is significant – they’re known for helping companies prep for public offerings. Dibrov basically admitted as much, saying they chose Goldman for their track record of accelerating growth toward IPOs. The company’s revenue growth is impressive – they doubled their ARR to $200 million in less than 18 months, then hit $300 million just months later. But here’s the thing: they’re not in a rush. The 2026-2027 IPO timeline gives them plenty of runway to hit that $1 billion ARR target without being pressured by public market quarterly expectations.
Cyber funding context
This massive funding round stands out in what’s been a pretty tough market for tech funding overall. Cybersecurity continues to be one of the few sectors where investors are still writing big checks. The $6.1 billion valuation is substantial, especially considering they were valued at $4.2 billion just last October. That’s a 45% jump in valuation in about six months. It tells you that investors see something special here – either massive growth potential or maybe even acquisition interest down the line. With Alphabet’s venture arm involved, you’ve got to wonder if there’s strategic interest beyond just financial returns.
What’s next
So where does Armis go from here? They’ve got the war chest, they’ve got the growth trajectory, and they’ve got a clear target. The challenge now is execution. Scaling from $300 million to $1 billion in ARR is no small feat, even in a hot market. They’ll need to continue their rapid growth while potentially expanding their product offerings and going up against larger competitors. The 2026-2027 IPO timeline seems realistic, but a lot can happen in the cybersecurity market in two years. If they can maintain this momentum, they might just become one of those “generational businesses” Dibrov is talking about.
