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Enterprise software company ServiceNow agreed to acquire nine-year-old cybersecurity startup Armis for $7.75 billion in cash.<\/p>\n
The deal is a massive valuation jump for the company. Just last month, Armis raised a $435 million pre-IPO funding round, which valued the company at $6.1 billion<\/a>.<\/p>\n Armis co-founder and CEO Yevgeny Dibrov had told TechCrunch last month that the company aims to go public in late 2026 or 2027, adding that an IPO is his \u201cpersonal dream.\u201d<\/p>\n Given the unpredictability of IPO markets and how few cybersecurity companies actually go public<\/a>, it is not a surprise that Armis ultimately chose an M&A exit.<\/p>\n According to ServiceNow, Armis has reached $340 million in annual recurring revenue (ARR), with year-over-year growth exceeding 50%.<\/p>\n Armis, which provides security software for critical infrastructure to Fortune 500 companies and governments, will help ServiceNow expand its cybersecurity offerings.<\/p>\n The deal caps off a busy acquisition year for ServiceNow, which scooped up Moveworks for $2.85 billion and agreed to acquire cybersecurity startup Veza for $1 billion.<\/p>\n According to PitchBook, Armis has raised a total of $1.45 billion in venture capital from investors, including Sequoia, CapitalG, and Insight Partners.<\/p>\n<\/div>\n