Cyber unicorn Armis acquiring Silk Security for $150 million
Cyber unicorn Armis acquiring Silk Security for $150 million
Silk has developed a platform for sustainable cyber risk resolution and raised $12.5 million in Seed funding last August
Israeli cybersecurity company Armis Security has announced the acquisition of fellow Israeli startup Silk Security for $150 million. Calcalist first revealed the negotiations between the companies in January.
Silk has developed a platform for sustainable cyber risk resolution and raised $12.5 million in Seed funding last August. The funding was led by global software investor Insight Partners and Hetz Ventures, with participation of the CrowdStrike Falcon Fund and seasoned cybersecurity angel investors including Shlomo Kramer, Mickey Boodaei and Rakesh Loonkar.
Silk has developed a platform enabling security managers to automatically receive a comprehensive overview of vulnerabilities from all corporate alert tools. This allows them to identify the source of weaknesses, manage and prioritize them, and consequently, expedite their swift correction.
Silk was founded in early 2022 by CEO Yoav Nathaniel, CTO Bar Katz and CPO Or Priel. All 30 Silk employees will join Armis.
Armis plans to integrate the Silk Platform into the Armis Centrix AI based Vulnerability Prioritization and Remediation solution to boost its capabilities and now be able to provide security teams with a consolidated view of security findings that encompass all sources of data from on prem devices to cloud compute, code, and application security tools, and fully manage and automate remediation.
Armis, which announced at the start of last year that it reached an ARR of $100 million, was acquired by Insight Partners and Google’s investment fund Capital G for $1.1 billion in January 2020. Armis raised $300 million at a $3.4 billion valuation in November 2021, taking its total funding to $600 million. The round was led by One Equity Partners.
Armis was founded in 2015 by CEO Yevgeny Dibrov and CTO Nadir Izrael. Armis has developed an agentless, enterprise-class device security platform designed to address the threat landscape of unmanaged IoT devices.
This is Armis’ second acquisition in two months after purchasing CTCI (Cyber Threat Cognitive Intelligence), a privately held company specializing in AI-powered pre-attack threat hunting technology, for around $20 million in February.
“Global enterprises and governments need a platform that can address the entire lifecycle of cybersecurity threats,” said Yevgeny Dibrov, CEO and Co-Founder of Armis. “Given today’s complicated, dynamic threat landscape, legacy technologies and point solutions are no longer fit for purpose. To ensure the entire attack surface is both defended and managed in real time, organizations need a comprehensive solution that quantifies and reduces risk continually through the ability to prioritize and remediate the most important security findings at any given time, in any environment.”
“We are extremely excited to be joining forces with Armis and to have the opportunity to bring our technology into the Armis solution stack. Organizations across the world are struggling to address increasing concerns about security risks to ensure business continuity. These concerns can be resolved by creating proactive strategies to identify, manage and reduce those risks,” said Yoav Nathaniel, CEO and Co-Founder of Silk Security. “Customers of Silk Security and Armis are going to have an accelerated advantage in the use of our technology with this unprecedented integration, benefiting from a holistic approach for exposure management that works even for the most complex organizations.”
