Armis

Armis sells agentless security software that discovers and monitors every connected device and asset in an organization, including unmanaged Internet of Things, medical and operational technology equipment, and flags devices that behave abnormally. Its customers include Fortune 500 companies, national governments and state and local agencies. The company was co-founded by Yevgeny Dibrov, its CEO, and Nadir Izrael, its CTO; it launched in 2015, with research and development in Israel and its headquarters in San Francisco.

Sequoia Capital and Tenaya Capital backed Armis in its earliest rounds. In April 2018 Bain Capital Ventures and Red Dot Capital led a $30 million Series B, bringing total funding to $47 million. In April 2019 Sequoia led a $65 million Series C with new investors Insight Venture Partners and Intermountain Ventures, taking total funding to $112 million after the company reported 700 percent growth in a year. In January 2020 Insight Partners agreed to acquire Armis for $1.1 billion, with CapitalG investing alongside, and the company continued to operate independently under its founders. Armis then raised further growth capital and in August 2025 announced a tender offer at a $4.5 billion valuation. In November 2025 it raised a $435 million pre-IPO round led by Growth Equity at Goldman Sachs Alternatives, with CapitalG and new investor Evolution Equity Partners, at a $6.1 billion valuation. PitchBook data cited by TechCrunch puts total venture funding at $1.45 billion.

Dibrov said in November 2025 that Armis was aiming for an IPO in late 2026 or 2027 and had reached $300 million in annual recurring revenue. In December 2025 ServiceNow agreed to buy the company for $7.75 billion in cash, citing $340 million of ARR growing more than 50 percent a year. ServiceNow closed the acquisition on April 20, 2026, reporting preliminary purchase consideration of about $7.6 billion in cash, partly financed with a $4 billion term loan. Armis now forms part of ServiceNow's security and risk business.

Armis is a case of an Israeli security company that produced two exits for different investor groups. Sequoia, Tenaya, Bain Capital Ventures and Red Dot entered between 2015 and 2018 and were bought out by Insight Partners at $1.1 billion about four years after launch. Insight and CapitalG then held the company for six more years and sold it to a strategic acquirer at roughly seven times that price, choosing a sale over the IPO the founder had described as his goal.