Highlights:

  • Armis offers Centrix, a software platform that automatically maps devices within a corporate network and scans them for cybersecurity vulnerabilities.
  • The company states that Centrix can also identify devices that do not comply with the European Union’s GDPR privacy regulations.

The company behind an enterprise device detection and protection platform, Armis Inc., has raised USD 200 million in funding to fuel its growth initiatives.

The company recently announced the investment, stating that the funds were provided by General Catalyst, Alkeon Capital Management, Brookfield Technology Partners, and Georgian. This Series D funding round values Armis at USD 4.3 billion, a USD 1.3 billion increase from its valuation after the previous round in 2021.

In a large corporate network with thousands of devices, some endpoints may go unnoticed by administrators, leaving potential vulnerabilities undetected. Armis offers Centrix, a software platform that automatically maps all devices within a corporate network and scans them for cybersecurity risks.

The platform can detect various devices, including employee endpoints, printers, servers, and network equipment. Once Centrix identifies a new device, it scans for vulnerabilities like unpatched firmware with known security issues. It then ranks these vulnerabilities by severity, enabling administrators to prioritize their remediation efforts.

Centrix can also detect more nuanced cybersecurity issues. The platform identifies cases where a device lacks antivirus software or has antivirus installed but is unable to utilize its full features due to network issues. For example, some antivirus tools depend on a cloud-based backend, making them ineffective at detecting malware if the device they’re on is not connected to the internet.

Centrix can also detect more nuanced cybersecurity issues. The platform identifies cases where a device lacks antivirus software or has antivirus installed but is unable to utilize its full features due to network issues. For example, some antivirus tools depend on a cloud-based backend, making them ineffective at detecting malware if the device they’re on is not connected to the internet.

Armis emphasizes that its platform extends beyond cybersecurity, offering broader compliance and operational benefits. For instance, its Centrix solution identifies devices that violate GDPR regulations. Additionally, in the healthcare sector, Armis provides a critical feature that notifies administrators if the FDA issues a recall on medical equipment, ensuring prompt action.

Historically, detecting device issues has been challenging due to the way telemetry is gathered. Cybersecurity tools typically monitor a company’s hardware by analyzing the network traffic devices produce. However, many systems, especially industrial and medical devices, generate traffic infrequently, providing limited opportunities to collect telemetry data.

Armis claims that Centrix addresses this challenge through a feature called Smart Active Querying. This mechanism gathers data about devices directly, bypassing the need for network traffic analysis. It can determine a device’s purpose, check if its firmware is up to date, and obtain other relevant technical information.

This recent funding milestone follows Armis’ announcement, about three months ago, that its annual recurring revenue has surpassed USD 200 million, doubling from USD 100 million just 18 months prior. To sustain this growth, Armis plans to use the new capital to accelerate product development and explore potential acquisitions.

The company aims to use the new funding to reach USD 500 million in annual recurring revenue by 2026. According to sources, Armis plans to go public that same year and has already begun preparations for the offering.