Monday, April 9, 2018

Armis raises $30M for enterprise IoT

Armis, a start-up based in Palo Alto, California with offices in Tel Aviv,  raised $30 million in Series B funding for its enterprise IoT security solutions.

Armis offers an agentless security solution that provides visibility of every device in the enterprise environment. It analyzes and classifies devices and their behavior in order to identify risks or attacks, and protects critical information and systems. Armis does not require any hardware and integrates seamlessly into any environment or existing infrastructure.

The company said its technology was responsible for the discovery of the BlueBorne compromise last September, which was the largest exposure of devices to date.

The funding round was led by Red Dot Capital Partners, a Temasek-backed Venture Capital fund based in Israel and focused on growth-stage tech companies, with Bain Capital Ventures joining. Sequoia Capital and Tenaya Capital also participated as return investors. This brings the company's total funding to $47 million.

"Last year, IoT played a role in driving enterprise cyber threats up by 600 percent. Organizations now recognize that connected device security is no longer a 'nice to have,' but is 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, we've allowed security teams to achieve goals without disrupting their businesses' digital transformation journeys."

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