Armis Secures $125 Million Investment From Brookfield Technology Partners
Recently, the investment firm Brookfield Technology Partners invested in the cybersecurity firm Armis. The company is a pioneer in agentless device security and claims that its Solution delivers five-times visibility over other solutions. The funding follows a year-long evaluation of Armis’ platform. The Armis has now invested $125 Million Investment From Brookfield Technology Partners. Its next step is to scale globally and serve a wide range of industries.
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Armis Raises $125 Million from Brookfield Technology Partners
Security startup Armis raised $125 million from Brookfield Technology Partners, increasing its valuation to nearly $2 billion. The investment follows a $1.1 billion acquisition from Insight Partners last year. The former will remain a majority stakeholder, but the new investment will help the company expand its product offerings and increase its market share. Brookfield also includes existing investors such as Alphabet’s CapitalG fund.
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The new funding will help Armis Brookfield Technology Partners continue its growth plans, as the company has seen revenue grow nearly seven times in the past two years. The company is on track to double its business this year. The new capital will allow Armis to expand outside North America and pursue acquisitions. The company is also expected to continue to expand its channel partners. Armis currently has 130 channel partners. Its founder and CEO, Peter Doggart, previously worked at Symantec’s channel business unit.
Armis Brookfield Technology Partners Is Developing an Agentless Device Security Platform
A scaled growth equity investment led by Brookfield Asset Management Inc. will help Armis advance product development and expand sales and marketing teams. The firm hopes to use the fresh capital to expand its platform across a wide variety of markets. Currently, it has raised around $300 million in funding and is valued at $2 billion. Armis Brookfield Technology Partners will use the new funding to accelerate product development, expand its sales and marketing team, and expand its customer base across a number of segments.
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Armis Brookfield Technology Partners is developing an agentless device security platform that is able to detect threats and block or prevent them before they can cause damage. The company recently acquired Insight, a health care IT security firm, and is now aiming to expand its product offering to cover a broad range of IoT devices. In addition to security, the company has also been acquiring other companies such as security startups, including Cylance.
Armis Brookfield Technology Partners Revenue Has Grown More Than 750 Percent in Two Years
The recent investment by One Equity Partners has bolstered the company’s valuation from $1.5 billion to $3.4 billion. The company is now working with 35% of the Fortune 100 and plans to grow the business even more. According to the company, it plans to expand into key verticals and regions to keep pace with its fast-growing customer base. However, it has yet to disclose how many employees it has, but it is believed to have approximately 500 people worldwide.
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After years of being a niche company, Armis Brookfield Technology Partners now aims to expand its global footprint and become a market leader in cybersecurity. Its security platform covers medical devices, industrial control systems, and connected devices. Armis also offers solutions for EDR, compliance, incident response, and threat detection. The company’s revenue has more than doubled in the last two years and its customer base has grown nearly fourfold. With this new funding, the company plans to expand its footprint in emerging markets, EMEA, and Asia-Pacific.
Solution Delivers 5x Visibility Over Other Solutions of Armis Brookfield Technology Partners
In the recent year, Armis Brookfield Technology Partnerships won awards and accolades for its scalable platform and capabilities. Armis has been recognized as a leader in OT security by Forrester and ISG, and it has been named the 2021 IoT Security Company of the Year by the IoT Breakthrough Awards. The company has received $300 million in funding, and last year, Insight Partners acquired it for $1.1 billion. The company is also backed by Georgian Partners and CapitalG, two of Alphabet’s growth funds.
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Armis is unique in addressing this unmet security need by providing an agentless enterprise device security platform that protects traditional as well as new IoT devices. Armis also boasts a vast knowledge base of devices, tracking device behavior, connections, and history. Armis is also agentless, which makes it easy to deploy and manage across any network.