Armis raises $435M pre-IPO round at $6.1B valuation after refusing M&A offers

Core Insights - The cybersecurity sector is characterized by a trend where startups are more likely to be acquired rather than going public, as evidenced by Wiz's decision to sell to Google instead of pursuing an IPO [1] - Armis, a cybersecurity startup, has raised $435 million in a pre-IPO funding round, indicating its intent to follow the path of other recent public offerings in the sector [2][3] Funding and Valuation - The recent funding round values Armis at $6.1 billion, a significant increase from its previous valuation of $4.5 billion announced in August [3] - The funding round was led by Growth Equity at Goldman Sachs Alternatives, with participation from CapitalG and Evolution Equity Partners [2] IPO Plans - Armis aims to launch its IPO in late 2026 or early 2027, with the CEO expressing that this is a "personal dream" for him [3][4] - The company has reached an annual recurring revenue of $300 million and plans to increase this to $500 million while becoming cash flow positive before the IPO [4] Company Operations - Armis provides security software for critical infrastructure, serving Fortune 500 companies, national governments, and state and local entities [6] - The company is already operating with a mindset akin to a public company, focusing on meeting quarterly financial targets [5]