IoT security company Armis has pulled in $65m in its Series C round of funding which was led by Sequoia Capital.
Other participants to the round, which brings Armis’ total equity raised to $112m, include Insight Venture Partners and Intermountain Ventures. Bain Capital Ventures, Red Dot Capital Partners, and Tenaya Capital also contributed to the round as returning investors.
As part of the deal, Sequoia partner Carl Eschenbach will join the Armis board of directors.
Capital from the round will be used to boost its sales, marketing and engineering efforts, as well as expand the platform.
Armis is an agentless security platform to help businesses protect their unmanaged and unprotected IoT devices. Its solution is used across the finance, healthcare, retail, and manufacturing industries, among others.
The platform has a cloud-based knowledge bank which monitors more than 80 million devices worldwide. Leveraging this, Armis can deliver a comprehensive oversight of every device within an enterprise, analysing and classifying devices and their behaviour in order to identify risks or attacks, and protects critical information and systems.
Sequoia partner Carl Eschenbach said, “Armis offers companies unprecedented visibility across managed and unmanaged devices during a time when the number of IoT devices is exploding. As every industry and market segment faces the issue of identifying and securing these devices, Armis is providing the best solution with their easy to install, agent-less platform.
“This, along with their incredible team and company culture, is why we’ve partnered with the company since the Series A in Israel and are thrilled to be part of this next phase of growth.”
Earlier in the year, Sequoia led the $42m Series B round of machine intelligent security platform Tessian. The RegTech automatically protects individuals and enterprises from cyber threats like misaddressed emails, data loss and non-compliance.
Copyright © 2018 RegTech Analyst
