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IoT Security Startup Armis Raises $65 Million Series C

April 11, 2019 / Jessica Lyons Hardcastle

IoT security startup Armis raised $65 million in Series C funding, bringing the company’s total to $112 million. Sequoia Capital led the round, with participation from Insight Venture Partners and Intermountain Ventures. Bain Capital Ventures, Red Dot Capital Partners, and Tenaya Capital also joined the round as return investors. Carl Eschenbach, a partner at Sequoia, joined Armis’ board of directors. The company, founded in 2015, saw 700% growth in annual revenue last year including multi-million-dollar contracts with enterprises, said CTO and co-founder Nadir Izrael. Armis claims it deploys its technology in more than 25% of the Fortune 100, and its customers include Mondelēz, Sysco Foods, Allergan, and Samsung Research America.