Security News > 2021 > February > IoT Security Firm Armis Raises $125 Million at $2 Billion Valuation
Enterprise IoT security company Armis on Wednesday announced another major funding round that brings its valuation to $2 billion.
Armis said it raised $125 million in the latest round, which brings the total investment secured by the company to $300 million.
Insight Partners, which announced the acquisition of Armis in January 2020 at a valuation of $1.1 billion, will remain the majority owner.
Armis will remain an independent company and its founding executives will continue to manage it.
The company claims its revenue increased by more than 750% over the past couple of years and the number of customers rose by 425%. Armis says it has Fortune 100 and Global 2000 customers, including Mondelēz, Sysco, Fresenius, Home Depot, Oracle, and DocuSign.
Headline updated after Armis confirmed to SecurityWeek that it raised $125 million in the latest funding round.