Armis, which helps companies protect IoT devices on their networks, raises $65M Series C led by Sequoia Capital, bringing its total raised to $112M
Armis is helping companies protect IoT devices on the network without using an agent, and it's apparently a problem that is resonating with the market …
Context & Ripple Effects
Armis's funding arc has been steep and fast: a $30M Series B led by Bain Capital Ventures and Red Dot Capital came just a year before this $65M Series C, and Sequoia taking the lead here marks the step up from growth-stage specialists to a top-tier firm. The company sells agentless protection for IoT devices on enterprise networks — devices that traditional endpoint agents can't touch.
What makes this round notable in hindsight is what followed: within months, Insight Partners agreed to acquire Armis at a $1.1B valuation, and the company kept raising afterward — $125M at $2B, then $300M at $3.4B, and most recently $435M at a $6.1B valuation in late 2025. This Series C is the inflection point where the category stopped being a niche bet.
First-order effects
- Armis gets $65M and Sequoia's imprimatur to scale sales of its agentless IoT security platform, bringing total raised to $112M.
- Sequoia's lead signals to enterprise buyers that securing unmanaged devices is now a mainstream budget line rather than an experimental purchase.
Second-order effects
- Rivals in device security face pressure to match the agentless approach or explain why their agent-based models cover less of the network, since Armis's pitch targets exactly the devices their products miss.
Third-order effects
- If the trajectory holds — $1.1B acquisition, then successive rounds to a $6.1B valuation — IoT device security consolidates into large platform companies, and 'unmanaged device visibility' becomes a standard layer of the enterprise security stack alongside endpoint and network tools.
The trend: Enterprise security spending is shifting toward agentless platforms that cover unmanaged and IoT devices, with top-tier venture capital accelerating the category's consolidation.