Insight has completed the venture acquisition of Armis, a Palo Alto, CA-based enterprise IoT security company, which was announced on January 6, 2020, at a valuation of $1.1 billion.
CapitalG participated for $100m and rollover from certain existing stockholders.
Armis will continue to operate independently and will be fully managed by its two co-founders, Yevgeny Dibrov, CEO, and Nadir Izrael, CTO, and its executive team, while leveraging the support of Insight’s business strategy and ScaleUp division, Onsite. As part of the acquisition, Insight Co-Founder and Managing Director Jeff Horing, Insight Managing Director Teddie Wardi, Insight Principal Thomas Krane and Cyberstarts Founder Gili Raanan, will be serving on the Armis Board of Directors.
Founded in late 2015, Armis provides an agentless, enterprise-class security platform that allows organizations to safely embrace unmanaged and IoT devices (from traditional devices like laptops and smartphones to new unmanaged smart devices like smart TVs, webcams, printers, HVAC systems, industrial control systems, medical devices and more) throughout their business. Armis discovers devices on and off the network, continuously analyzes endpoint behavior to identify risks and attacks, and protects critical information and systems by identifying suspicious or malicious devices and quarantining them.
The company serves Fortune 100 (including 25% of the Fortune 50), Global 2000, mid-size organizations, across all verticals, including high tech, healthcare, industrial, retail, smart cities/building, transportation, and more. It is used by global organizations such as Allergan, Mondelēz, Oracle and Sysco Foods, among others.
FinSMEs
12/02/2020