Israeli cybersecurity company Armis has announced the completion of a $435 million financing round at a company valuation of $6.1 billion, led by Goldman Sachs growth fund. Armis, which protects customers with sensitive equipment like hospitals and electricity and water infrastructure companies, described the financing round as pre-IPO.
The huge injection of funds will allow the company breathing space to prepare for its planned Wall Street flotation, which it estimates will be about the end of 2026 or early 2027.
This latest financing round means that Armis has rejected other investment deals on the table, including a proposal by private equity firm Thoma Bravo to acquire control of it from Insight Partners at an estimated valuation of $5 billion, as previously revealed by "Globes."
This financing round makes Armis one of the largest cybersecurity companies in Israel in valuation terms and the largest company in the sensitive equipment cybersecurity market. Other Israeli cybersecurity companies that have grown over the past year include Cyera, which has reached a valuation of $6 billion, Island, which reached a valuation of $5 billion, and Wiz, which awaits approval for its sale to Google for $32 billion.
The new funding will leave control of the company in the hands of the Insight Partners and will only buy Goldman Sachs a holding of a few percent in Armis, with the promise of seeing returns from an IPO or acquisition.
Google's venture capital fund, CapitalG, is also an existing investor in the company that has participated in this financing round in a dominant role, with an investment estimated at $100 million, strengthening its position among investors in the company and making it the second largest investor after Insight Partners, with a stake of several dozen percent in the company. The other investors in the company are Brookfield, Georgian, GSquared, and the Evolution Fund, which joined in the last round. Most of the capital raised is being channeled into the company's coffers, but some of it has been directed to the purchase of shares (secondary round) from an Austrian fund that received shares in Armis after it acquired cybersecurity company Otorio. Armis cofounder and CEO Yevgeny Dibrov tells "Globes," ""We had many offers on the table, but we are currently continuing our growth momentum. We crossed the $300 million threshold in annual recurring revenue (ARR), a rate that is $100 million higher than at the start of the year, and now we are focused on the goal of reaching an ARR rate of $1 billion within three years."
He adds, "In any case, we are not in any hurry to go public, a secondary round is behind us ($100 million to employees and founders transferred in exchange for shares last August), and there is a lot of demand for the company's shares - so we have no problem continuing to operate as an independent company and continuing to grow aggressively."
Despite the talk of aggressive growth, Dibrov stresses that Aramis will approaching profitability next year in preparation for the IPO. Armis has a CFO named Jonathan Carr, who previously served as CFO at public companies such as Atlassian and SurveyMonkey.
Aramis, founded by former Adalom founders Dibrov and Nadir Izrael, currently competes in the niche of securing critical and sensitive facilities and supply chains for manufacturing plants, airlines, sensitive facilities and federal agencies, with companies such as Shalev Hulio’s Dream, Axonius and Medigate.
Armis has 850 employees and has expanded significantly to work with federal agencies and security organizations in the US and is broadening its products in the field of managing and fixing cyber vulnerabilities - software holes that allow hackers to penetrate organizations. The acquisition of last year of Silk Security, a company in the field of management and prioritization of vulnerability remediation in the cloud for $150 million has allowed it to increase annual revenue of its business unit from $600,000 to an estimated $40 million today. With the expansion into the field of management and vulnerabilities - the company competes with larger rivals such as US companies Tenable and Qualis.
Published by Globes, Israel business news - en.globes.co.il - on November 5, 2025.
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