Armis Secures $435M Pre-IPO Funding at $6.1B Valuation, Turning Down Acquisition Offers

Cybersecurity is a massive sector, but startups in the category are more likely to be acquired than go public. Even Wiz, which for a time held the title of the fastest-growing startup, abandoned its IPO ambitions when it agreed to sell to Google earlier this year.

In the past few years, there have been scant few significant cybersecurity listings:  SentinelOne IPO’d in 2021, Rubrik did so last year, and Netscope went public in September.

Armis, a nine-year-old cybersecurity startup based out of San Francisco, intends to follow in these companies’ footsteps. The company said on Wednesday that it has raised a $435 million pre-IPO round led by Growth Equity at Goldman Sachs Alternatives. CapitalG made a significant investment in the round, and new investor Evolution Equity Partners also participated.

The round values Armis at $6.1 billion, a meaningful jump from the $4.5 billion tender offer valuation the startup announced in August.

Armis is hoping to launch its IPO in late 2026 or early 2027, its co-founder and CEO, Yevegny Dibrov.

The round comes in the wake of significant acquisition interest in the company. In September, Bloomberg reported that Armis had received seven offers, which included a potential $5 billion bid from private equity firm Thoma Bravo.

But this new funding is an indicator of how serious Armis is about an IPO, a move which Dibrov described as his “personal dream.”