Cybersecurity is an enormous sector, however startups within the class usually tend to be acquired than go public. Even Wiz, which for a time held the title of the fastest-growing startup, deserted its IPO ambitions when it agreed to promote to Google earlier this 12 months.
Prior to now few years, there have been scant few important cybersecurity listings: SentinelOne IPO’d in 2021, Rubrik did so final 12 months, and Netscope went public in September.
Armis, a nine-year-old cybersecurity startup based mostly out of San Francisco, intends to comply with in these firms’ footsteps. The corporate mentioned on Wednesday that it has raised a $435 million pre-IPO spherical led by Progress Fairness at Goldman Sachs Alternate options. CapitalG made a major funding within the spherical, and new investor Evolution Fairness Companions additionally participated.
The spherical values Armis at $6.1 billion, a significant bounce from the $4.5 billion tender provide valuation the startup introduced in August.
Armis is hoping to launch its IPO in late 2026 or early 2027, its co-founder and CEO, Yevegny Dibrov (pictured above; proper), advised TechCrunch.
The spherical comes within the wake of great acquisition curiosity within the firm. In September, Bloomberg reported that Armis had acquired seven presents, which included a possible $5 billion bid from personal fairness agency Thoma Bravo.
However this new funding is an indicator of how severe Armis is about an IPO, a transfer which Dibrov described as his “private dream.”
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In response to Dibrov, Armis has reached annual recurring income of $300 million, and plans to take that determine to $500 million whereas changing into money movement constructive earlier than its IPO.
The startup is already “behaving like a public firm,” Dibrov mentioned, including that the corporate is guaranteeing it hits its quarterly monetary targets.
The corporate gives safety software program for essential infrastructure to Fortune 500 firms, nationwide governments, and state and native entities.
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