According to CNBC, cybersecurity startup Armis has raised $435 million in a funding round that values the company at $6.1 billion. Goldman Sachs Alternatives’ growth equity fund anchored the investment, with participation from Alphabet’s CapitalG and new investor Evolution Equity Partners. The company surpassed $300 million in annual recurring revenue in August, achieving that milestone less than a year after hitting $200 million. CEO Yevgeny Dibrov said the funding resulted from talks about stake offers that began in September. Armis is now aiming for an IPO at the end of 2026 or early 2027, though Dibrov emphasized they’re waiting for the right market conditions.
That’s some serious growth
Look, going from $200 million to $300 million in ARR in under a year is no small feat. Basically, they doubled their ARR in less than 18 months according to their own announcements. And now they’re talking about hitting $1 billion in recurring revenue before going public. That’s the kind of growth trajectory that gets investors excited – and explains why Goldman Sachs is betting big here.
Why this matters right now
Here’s the thing: the cybersecurity market is absolutely flooded with players. But Armis has found a specific niche – securing internet-connected devices – that’s becoming increasingly critical as everything from medical equipment to factory sensors goes online. With their exposure management platform, they’re positioned in what Dibrov calls a “very unique and huge demand” area. And given the recent high-profile attacks on connected infrastructure, that demand isn’t slowing down anytime soon.
The IPO timeline makes sense
Targeting late 2026 or early 2027 for an IPO is actually pretty conservative in today’s market. Many companies would be rushing to go public with these numbers. But Armis seems to be playing the long game – they want to hit that $1 billion ARR milestone first, and they’ve got the funding to get there without the pressure of public markets. Their previous $200 million round at a $4.2 billion valuation was just in October, so this represents a significant valuation jump in a short period.
What this means for cybersecurity
This funding round signals that investors still see massive opportunities in specialized cybersecurity niches. While general security platforms get crowded, companies focusing on specific problems – like securing the explosion of IoT devices – can command premium valuations. The Goldman Sachs involvement is particularly telling – they’re known for helping companies prepare for IPOs, which suggests they see Armis as a strong public market candidate. So while the cybersecurity space might feel saturated, there’s clearly still room for focused players with strong growth stories.
