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IoT Security Co Armis Raises $17m

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Wednesday, June 7th, 2017

Armis has developed a platform that allows enterprises to see and control compromised and unmanaged devices and rogue networks, eliminating the IoT security blind spots.

As reported in Globes:

Enterprise IoT security company Armis launched from stealth today with $17 million in funding from Sequoia Capital and Tenaya Capital. Armis has developed a technology platform that allows enterprises to see and control compromised and unmanaged devices and rogue networks accessing their systems, effectively eliminating the IoT security blind spot that exists in all businesses today.

In early deployments Armis has shown that businesses are unaware of 40% of the devices in their environment. They have limited visibility into which devices are accessing their networks, which exposes them to botnet attacks, network breaches, ransomware, and data loss.

Armis provides an agentless IoT security platform that gives enterprises a complete view into activity and threats on devices and networks. Frictionless to deploy, Armis integrates with existing IT infrastructure and gives businesses visibility into and management over any device, whether on or off the corporate network. With Armis, enterprises are able to gain the productivity benefits of using IoT devices without sacrificing security.

“The exponential growth of IoT introduces risk that most enterprises are not prepared to handle,” said Gili Raanan of Sequoia Capital, one of Armis’ investors. “[Founders] Yevgeny and Nadir’s strong vision combined with their decision to blend top Israeli engineering talent with sales and marketing executives from Cylance, Intel, McAfee and Symantec set them up for success.”

Enterprise IoT is expected to make up 40 percent of the IoT market by 2019, which amounts to around 9.1 billion devices.

Read more here.