Cybersecurity firm Armis valued at $6.1 billion in latest funding round

(Reuters) -Armis said on Wednesday it has raised $435 million in its fundraising round, valuing the US-Israeli cybersecurity firm at $6.1 billion, marking an over 45% increase in just over a year.

 

Demand for digital threat prevention tools has surged amid targeted attacks on critical electronic infrastructure used by corporations and governments.

A series of cyberattacks has cost billions in monetary losses and data leaks across the globe this year alone, with lawmakers calling to make cyber-resilience a board-level priority.

 

Armis’ latest financing was led by the alternative investments platform of Goldman Sachs, with existing investor CapitalG also participating in the round.

The San Francisco, California-based company said the funds will be used to execute its three-year plan, involving reaching $1 billion in annual recurring revenue and preparing for an initial public offering.

 

Founded in 2016, Armis secures connected devices in real time to protect against cyber threats, and serves more than 40% of the Fortune 100 companies.

 

(Reporting by Ateev Bhandari in Bengaluru; Editing by Vijay Kishore)