IoT security startup Armis doubled its valuation to $ 2 billion in less than a year thanks to a new round of funding that aims to open new business opportunities in healthcare, manufacturing, and retail if the startup pursues its ambitions to go the stock market.
The Palo Alto, Calif., Company announced Tuesday that it had received a $ 125 million round of funding from Brookfield Technology Partners – the investment arm of alternative asset management firm Brookfield Asset Management, which has more than $ 575 billion in assets – Managed dollars – and added other investors.
Akamai Buys IoT Security Vendor Inverse To Better Spot Devices
The company announced that it has decided to invest in Armis, which employs more than 350 people, after learning about the problems associated with identifying and managing connected devices from chief information security officers across Brookfield’s various businesses.
“Brookfield underwent a thorough industry evaluation for a year and it was clear that Armis would be the …