Insight Partners Acquires Armis For $1.1 Billion

Insight Partners Acquires Armis For $1.1 Billion

by NeoTech Post

Insight Partners, a venture capital firm, agreed to acquire, Armis, an agentless IoT security platform, for $1.1 billion.

Armis will continue to operate independently and will be fully managed by its two co-founders, Yevgeny Dibrov, CEO, and Nadir Izrael, CTO, and executive team.

According to Gartner, there will be 25 billion connected devices by 2021. 

The challenge is that these unmanaged and un-agentable devices have no security and represent the fastest-growing attack landscape for organizations globally, with attacks up 300% in 2019 alone. Armis reports that by 2021, up to 90% of all devices will be unmanaged and unsecured – dramatically increasing potential vector points for attack and creating a massive security gap within businesses and organizations.

The Armis agentless, enterprise-class security platform, which addresses the new threat landscape of unmanaged and IoT devices, is used by Fortune 1,000 companies (across all verticals, including high tech, healthcare, industrial, retail, smart cities/building, and transportation) to discover and analyze all managed, unmanaged, and IoT devices – from traditional devices like laptops and smartphones to new unmanaged smart devices like smart TVs, webcams, printers, HVAC systems, industrial control systems, medical devices, and more.

The platform discovers devices on and off the network, continuously analyzes endpoint behavior to identify risks and attacks, and protects critical information and systems by identifying suspicious or malicious devices and quarantining them, the company said.

“One of the biggest challenges keeping CIOs and CISOs up at night is how to secure the unmanaged devices proliferating through their businesses, from manufacturing floors to hospital rooms, from airports to boardrooms. These devices – capturing and creating business-critical information, working on production lines, or administering patient care – have no protection, and they need a security solution,” said Nadir Izrael, CTO, and co-founder at Armis. 

“The exponential growth of Armis to date illustrates just how critical securing unmanaged devices is for businesses. With the backing of Insight, we will continue to expand our world-class technology to help identify devices, track their behavior, and respond to the threats that target them.”

As part of the acquisition, Insight Founder Jeff Horing, Insight Managing Director Teddie Wardi, and Cyberstarts Founder Gili Raanan will be serving on the Armis Board of Directors. 

Armis clients include Allergan, Mondelēz, Oracle, and Sysco Foods.

Image by Gerd Altmann from Pixabay