Funding round
Armis Series D
Armis, which works in cyber exposure management solutions in San Francisco, raised $200M in a Series D round announced on 28 Oct 2024, led by General Catalyst and Alkeon, at a $4.20B post-money valuation. 7 firms took part, 6 of them already investors. It is Armis' fourth venture round on record; the one before was a Growth in Nov 2021.
$200M
Amount raised
$4.20B
Post-money valuation
$4.00B pre-money
7
Investors
2 leads
1.2x
Step-up from the Growth
$3.40B in Nov 2021
4.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Armis at $4.20B after the new money, 1.2 times the $3.40B of its Growth (Nov 2021). The $200M bought investors about 4.8% of the company. It came 35 months after Armis' Growth. It is 2.3% of the $8.88B Armis has raised in the venture rounds on record. Armis raised again 9 months later: a Growth round of $100M in Jul 2025, at $4.50B post-money.
Armis' funding rounds
Armis has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Series B 9 Apr 2018, led by Red Dot Capital Partners $30M
- Series C 11 Apr 2019, led by Sequoia Capital $65M
- Acquisition not a venture round 6 Jan 2020, led by Insight Partners $1.10B$1.10B post-money
- Growth 29 Nov 2021, led by One Equity Partners $300M$3.40B post-money
- Series D this round 28 Oct 2024, led by General Catalyst and Alkeon $200M$4.20B post-money
- Growth 23 Jul 2025, led by Georgian $100M$4.50B post-money
- Growth 5 Nov 2025, led by Growth Equity at Goldman Sachs Alternatives $435M$6.10B post-money
- Growth 30 Dec 2025, led by ServiceNow $7.75B
Investors
Who put money in
General Catalyst and Alkeon led the round with 5 other firms. General Catalyst, Brookfield, Georgian and Insight Partners and 2 more had backed Armis before.
Lead investors
- General Catalyst backs 574 venture-backed companies existing investor
- Alkeon backs 51 venture-backed companies new investor
Also in the round
- Brookfield backs 24 venture-backed companies existing investor
- backs 54 venture-backed companies existing investor
- Insight Partners backs 548 venture-backed companies existing investor
- CapitalG backs 70 venture-backed companies existing investor
- existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
97 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $99M, and this round was 2.0 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Oct 2024 | $190M | $2.20B | BOND |
| Tech Companies | 8 Oct 2024 | $135M | $1.00B | Bain Capital Ventures |
| Tech Companies | 10 Oct 2024 | $70M | not disclosed | Hedosophia |
| Tech Companies | 24 Oct 2024 | $62M | not disclosed | Koch Disruptive Technologies and New Enterprise Associates |
| Tech Companies | 22 Oct 2024 | $47M | not disclosed | not named |
| Cyera Tech Companies | 20 Nov 2024 | $300M | $3.00B | Accel and Sapphire Ventures |
| Tech Companies | 19 Nov 2024 | $125M | not disclosed | World Innovation Lab and Qatar Investment Authority |
| Tech Companies | 24 Sep 2024 | $76M | $500M | Sapphire Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Armis raise in its Series D round?
Armis raised $200M in its Series D round, announced in Oct 2024.
Who led Armis' Series D round?
General Catalyst and Alkeon led it, with Brookfield, Georgian, Insight Partners, CapitalG and One Equity Partners.
What was Armis' valuation at the Series D round?
$4.20B post-money ($4.00B pre-money).
How does it compare with other Series D rounds in Tech Companies?
97 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $99M, and this round was 2.0 times the median.
Did Armis raise again after this round?
Yes: a Growth round in Jul 2025 of $100M at $4.50B post-money.