Armis have announced that it has surpassed the 100m USD mark in annual recurring revenue (ARR) growing from 1m USD to 100m USD in less than five years.
This 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.”
Armis’ explosive growth has 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.
“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.”
