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Cybersecurity is a massive sector, but startups in the category are more likely to be acquired than go public. Even Wiz, which for a time held the title of the fastest-growing startup, abandoned its IPO ambitions when it agreed to\u00a0sell to Google<\/a>\u00a0earlier this year.<\/p>\n In the past few years, there have been scant few significant cybersecurity listings: \u00a0SentinelOne<\/a>\u00a0IPO\u2019d in 2021,\u00a0Rubrik<\/a>\u00a0did so last year, and Netscope went public in September.<\/p>\n Armis, a nine-year-old cybersecurity startup based out of San Francisco, intends to follow in these companies\u2019 footsteps. The company said on Wednesday that it has raised a $435 million pre-IPO round led by Growth Equity at Goldman Sachs Alternatives. CapitalG made a significant investment in the round, and new investor Evolution Equity Partners also participated. <\/p>\n The round values Armis at $6.1 billion, a meaningful jump from the $4.5 billion tender offer valuation the startup announced in August.<\/p>\n Armis is hoping to launch its IPO in late 2026 or early 2027, its co-founder and CEO, Yevegny Dibrov (pictured above; right), told TechCrunch.<\/p>\n The round comes in the wake of significant acquisition interest in the company. In September, Bloomberg reported that Armis had received seven offers<\/a>, which included a potential $5 billion bid from private equity firm Thoma Bravo.<\/p>\n But this new funding is an indicator of how serious Armis is about an IPO, a move which Dibrov described as his \u201cpersonal dream.\u201d <\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span> According to Dibrov, Armis has reached annual recurring revenue of $300 million, and plans to take that figure to $500 million while becoming cash flow positive before its IPO.<\/p>\n The startup is already \u201cbehaving like a public company,\u201d Dibrov said, adding that the company is ensuring it hits its quarterly financial targets.<\/p>\n The company provides security software for critical infrastructure to Fortune 500 companies, national governments, and state and local entities.<\/p>\n<\/div>\n
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