Cybersecurity startup Armis has raised $435 million in a funding round that values the company at $6.1 billion.

“The need for what Armis is doing and what we are building, in this cyber exposure management and security platform, is just increasing,” CEO and co-founder Yevgeny Dibrov told CNBC. There’s “very unique and huge demand right now, and we are continuing to grow.”

Goldman Sachs Alternatives’ growth equity fund anchored the investment, with participation from CapitalG, a venture arm of Alphabet. The security firm brought on Evolution Equity Partners as a new investor.

Armis helps businesses secure and manage internet-connected devices and protect them against cyber threats. The company chose Goldman’s growth fund due to its strong track record helping companies accelerate growth toward initial public offerings, Dibrov said.

“This is the partner for us to go to the next stage and continue to build here a real generational business to get to the Hall of Fame of cyber and SaaS businesses,” he said.

In September, Bloomberg reported that the company was exploring as much as seven stake offers. Dibrov told CNBC the funding round was an outcome of those talks.

Founded in 2016, Armis in August said it surpassed $300 million in annual recurring revenues. The California-based company achieved that milestone less than a year after topping $200 million in ARR.

Armis raised $200 million in an October 2024 funding round with General Catalyst and Alkeon Capital. Previous backers have included Sequioa Capital and Bain Capital Ventures. Armis also raised $100 million in a secondary offering in July.

Dibrov said Armis is aiming for an IPO at the end of 2026 or early 2027, but he said he’s in no rush and is waiting on “market conditions.” The company’s primary goal is to hit $1 billion in annual recurring revenue, he said.

“Going public will be before that,” he said.

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