Armis Surpasses $200M ARR, Doubling ARR in less than 18 months

12 August 2024

Knowledge Base

Armis, the asset intelligence cybersecurity company, announced on 6 August that it has surpassed $200m in annual recurring revenue (ARR) doubling its ARR in less than 18 months and making it one of just a few companies that have achieved this rapid scale, not just in the cyber security market, but of any SaaS company worldwide.

Armis’ explosive growth has been driven by its award-winning AI-powered cyber exposure management platform, Armis CentrixTM¹, which has been adopted by the world’s leading organisations, including 35 of the top Fortune 100 companies. Customers like United Airlines, the U.S Postal Service, Ryanair, Mondelez, Reckitt and Flex trust Armis to help them with some of the most complex cyber environments and additional expansion in national, state, local and Federal entities has led to increased deployment of Armis’ solutions globally. Armis also saw continued momentum across North America, EMEA and APJ which has led Armis to double its ARR in less than 18 months.

“This significant milestone reflects not just our huge financial growth in the last year but shows the unwavering trust that Fortune 100, 200, and 500 companies, large private organisations and healthcare systems, and governments place in us to safeguard their mission critical assets & infrastructure,” said Yevgeny Dibrov, Co-Founder and CEO at Armis. “Our commitment to empowering businesses with robust asset intelligence and security, proactive defence strategies and full risk management has never been stronger. As we continue to expand our impact across industries, this milestone fuels our mission to ensure that every organisation can operate confidently in the face of evolving threats.”

Armis’ mission is to protect organisations’ entire attack surface by managing cyber risk exposure in real time. Its cloud- based platform Armis Centrix™ and its suite of solutions proactively mitigate all cyber asset risks by identifying every asset, from the ground to the cloud, remediating vulnerabilities and blocking threats to give organisations peace of mind that all critical assets are protected.

Demand for Armis’s award-winning platform Armis Centrix™ continues at a rapid pace. Armis has expanded its capabilities & offerings, with the back to back acquisitions earlier this year of CTCI²and Silk Security³. Armis Centrix™ product suites now include deeper vulnerability mitigation, prioritisation, remediation, risk management and threat intelligence. It has developed a world-class partner first approach and seen expansion with some key partnerships over the last few years such as Accenture, Blackwood, Booz Allen Hamilton, CDI, Fortinet, GuidePoint Security, HCl, KPMG, Nomios, Optiv, Presidio, PWC, Softcat, Source IT Technologies, Telia Cygate, WWT and the AWS and Google Marketplaces.

“Over the past year we have been laser focused on efficient growth, expansion of customer engagement, adoption of our platform Armis Centrix™️, its 5 product suites, and have focused more on expanding our channel partner engagement,” said Jonathan Carr, Chief Financial Officer of Armis. “With our recent acquisitions and expanded capabilities, we continue to see high demand for our platform, its products and are growing well in excess of top public company benchmarks, in addition to our own industry peers.”

“Armis is an integral part of Main Line Health’s cybersecurity program, providing unparalleled visibility into every asset and device within our environment,” said Aaron Weismann, Chief Information Security Officer at Main Line Health. “As a hospital system dedicated to delivering safe, high-quality, equitable and affordable care to treat and cure disease, Armis allows us to focus on what truly matters.”

Industry analysts have recognised Armis’ broad platform offering with Frost & Sullivan awarding Armis two Best Practices awards – Customer Value Leadership for OT Cybersecurity⁴ and Technology Innovation Leadership for Global Healthcare Cybersecurity⁵.

Additional industry analyst firm recognition:

The Forrester Wave™: Operational Technology Security Solutions, Q2 2024, “Armis is ideally suited for organisations needing to manage a diverse and sprawling IoT and OT environment.”

Manuel Alborez, Frost & Sullivan Best Practices Research Analyst, “The Armis CentrixTM platform’s overarching distinction is that, through a single pane of glass, it provides a real-time, contextual view of the environment and security posture, monitoring and managing all assets affecting patient care, including IT, OT, IoT, medical devices, enterprise assets, and cloud infrastructure. In addition to this robust visibility, Armis offers cutting-edge threat intelligence and forensic monitoring capabilities.”

Danielle VanZandt, Frost & Sullivan Industry Manager – Commercial & Public Security, “In the face of a sprawling IT, OT, and IoT ecosystem, Armis provides its customers with the centralised management needed to protect their businesses. As organisations shift away from network-centric security, Armis acknowledges the potential vulnerability of any asset type. This enables them to guide security teams in proactive mitigation efforts, safeguarding the robustness of essential business processes across various sectors.”

Chris Ray, GigaOm Analyst, “Armis is a formidable player in the ASM landscape, focusing on asset discovery and management. At its core, the platform utilises a dual-method approach for asset discovery: integration-based discovery for known assets and deep packet inspection (DPI) of network traffic to unearth everything else.”

Additional analyst recognition and awards have been received in the last 12 months and are a testament to Armis’ award-winning Armis Centrix™ platform and approach to customer success:

Armis is a Leader in two 2024 GigaOm Radar reports: “GigaOm Radar for Attack Surface Management⁶” and “GigaOm Radar for OT Security⁷.”
Armis won the “2024 Frost & Sullivan Technology Innovation Leadership Award for Global Healthcare Cybersecurity⁸.”
Armis won the “2024 Frost & Sullivan Customer Value Leadership Award for Operational Technology Cybersecurity⁹.”
KLAS Research recognised Armis as a Healthcare IoT Security Top Performer in the 2024 Best in KLAS Software & Services¹⁰.
Armis is a Leader in the “Frost Radar for Operational Technology Cybersecurity Solutions, 2023¹¹.”
Armis is named a Representative Vendor in three 2023 Gartner Market Guides: “Market Guide for Vulnerability Assessment¹²,” “Market Guide for CPS Protection Platforms¹³,” and “Market Guide for Medical Device Security.”

Recent awards in the last year are as follows:

Inc.’s 2024 Best Workplaces List¹⁴
2024 Cybersecurity Excellence Awards¹⁵
Cyber Defense Magazine’s 2024 Global InfoSec Awards¹⁶
2024 Cloud Security Awards¹⁷
CRN Security 100 2024¹⁸
CRN Internet of Things 50 2024¹⁹
CRN Partner Program Guide 2024²⁰
Fast Company’s Most Innovative Companies 2023²¹
EY Entrepreneur of The Year 2023 Bay Area Winner; Armis CEO and Co-Founder, Yevgeny Dibrov²²
2023 ‘ASTORS; Awards – Platinum Award Winner²³
2023 Inc. 5000²⁴
Deloitte Technology Fast 500 2023²⁵