Armis, the asset visibility and security provider, announced today that it has surpassed the 100m USD mark in annual recurring revenue (ARR) growing from 1m USD to 100m USD in less than 5 years. This, it says, makes the company one of the fastest-growing centaurs in the SaaS and cloud technology space and the fastest-growing cyber start-up for asset visibility, intelligence and security.
“Making centaur status so quickly is testament to the business use cases we solve and why customers around the world have chosen us over anyone else,” said Yevgeny Dibrov, CEO and Co-founder of Armis. “Armis offers a comprehensive platform to enable customers to address all their asset visibility, vulnerability, intelligence and security needs in one place. As we look towards future opportunities, including a potential IPO, we continue to ensure we are growing efficiently, maximising our business and partner model and remain on track to cash flow profitability.”
The company attributes its explosive growth having been driven by its award-winning asset visibility and security platform which has been adopted by the world’s leading organisations and Fortune 100 companies, such as Colgate-Palmolive, Mondelez International, DocuSign, Allegro Microsystems and Takeda Pharmaceuticals in addition to many national, state, regional and federal entities across North America, EMEA and APJ.
For Takeda Pharmaceuticals, one of the biggest risks is a disruption in supply chain continuity, which would slow or prevent the delivery of medicine to patients,“ said Mike Towers, Chief Digital Trust Officer, Takeda Pharmaceuticals. “We primarily deployed Armis for this use case—to improve our supply continuity and the resiliency of our overall manufacturing process. At Takeda, nothing comes before making sure that we get our medicines to patients, and Armis is one of the key contributors to making sure that we can do that.”
Following a 300m USD investment round in November 2021, Armis was valued at 3.4b USD making it one of the hottest start-ups in cybersecurity. Armis is backed by world-class investors including Insight Venture Partners, CapitalG, Brookfield, One Equity Partners and Georgian.
Armis also notes the development of a “world-class” channel, resale and distribution model and is fortunate to be able to partner with organisations like Accenture, AWS, Booz Allen Hamilton, Capgemini, Check Point, Fortinet, Google Cloud, HCL, KPMG, Kroll, Nuvias, SentinelOne, ServiceNow, Wipro and hundreds more. It ensures Armis customers can access services and support wherever they may be in the world.
“We have placed great emphasis on growing the business efficiently, achieving world-class gross margins and getting to profitability in the near term. We have tremendous progress on all these fronts,” said Jonathan Carr, Chief Financial Officer of Armis. “I am pleased to say that we are on track to maintain our strong growth and achieve cash flow profitability in 2024, two quarters earlier than we had originally envisioned. Pair that with our strong balance sheet and we are in a very good position to maximise the opportunities ahead of us.”
Armis operates in a unique position driven significantly by the rapid increase in the number of unmanaged assets. Armis expects the number of unmanaged assets to surpass 50b devices by 2025 alone. This explosion in connectivity and the emergence of a perimeter-less world is resulting in considerable demand for Armis’ services.
Armis describes its platform as “the industry’s most comprehensive asset intelligence platform providing unified asset visibility and superior security across all asset types, including IT, IoT, OT, IoMT, cloud and cellular-IoT, managed or unmanaged.” In 2022, Armis expanded the number of modules customers can subscribe to, thus increasing the number of real-time use cases it supports and offering clients even more value.
Armis helps to see and secure the operational environments of some of the largest airports and ports in the world. It ensures that critical infrastructure and leading manufacturers can stay online 24/7, 365 days a year. Armis technology, the company says, can even help to save lives by securing medical assets and patient care environments in some of the largest healthcare delivery organizations around the world, in addition to protecting federal, state and local entities from cyber criminals, rogue nations and other bad actors.
Dr. Michael Connolly, Chief Information Officer (CIO), Mater Misericordiae University Hospital discussed the deployment of Armis: “Armis gives us precision-based evidence so we can deal with third-party suppliers who are connected to our infrastructure and hold them accountable. All of this helps make our environment a safer place.”
The company says that companies trust Armis’ real-time and continuous protection to see with full context all managed, unmanaged assets across IT, cloud, IoT devices, medical devices (IoMT), operational technology (OT), industrial control systems (ICS) and 5G.