Armis, the security platform provider, has closed its latest funding round, increasing its valuation to $3.4 billion. One Equity Partners (OEP) and other investors made a combined $300 million investment. The company will use the money will to further develop its platform and go-to-market.

Also Expect Armis to pursue acquisitions with the cash infusion.

Armis’ Yevgeny Dibrov

Yevgeny Dibrov is CEO and co-founder of Armis.

“One Equity Partners … deeply understands our sector and their acquisition expertise will help support us in achieving our expansion goals and objectives,” Dibrov said. “We look forward to OEP joining our board and working with our investor group to continue to scale and to acquire a number of strategically important assets.”

Rapid Revenue Increase

Armis’ growth is fueled by capturing an ever-increasing market share in a rapidly growing market. In addition, it’s expanded into new verticals and regions. Over the past three years, Armis increased its revenue by more than 8,800%. As a result, it is among the fastest-growing cybersecurity companies globally.

In recognition of the rapid expansion, Deloitte recently ranked Armis as the 25^th fastest-growing technology company in North America. Armis provide visibility, vulnerability detection and risk management across IT and enterprises. It also covers medical, operational technology, ICS, IoT, and IIoT verticals. Armis offers real-time threat detection to track more than 1 billion devices⁠.

Ori Birnboim is managing director of OEP.

OEP’s Ori Birnboim

“We see a growing need for enterprises in a unified offering, and we are excited to work together with our partners to further accelerate the growth trajectory of the company and safeguard assets around the world,” Birnboim said.

The close alignment of the OEP portfolio and the capabilities of Armis across health care, industrial OT and technology will drive significant investments in customer acquisition and expansion, the company said. Allegro MicroSystems will be the first OEP portfolio company to deploy Armis protection throughout its networks.