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Armis reaches $100 million AR, Ledge Raises $9 million

Armis founders Nadir Izrael-and Yevgeny Dibrov Source PR

Armis founders Nadir Izrael-and Yevgeny Dibrov Source PR

Armis, an Israeli internet of things IoT startup and a unicorn, passed the $100 million threshold in annual recurring revenue (ARR). Also, Ledge, an Israeli fintech startup that offers an automated payments command center, raised $9 million in Seed funding led by New Enterprise Associates (NEA), as well as Vertex Ventures, FJ Labs, and existing investors Picus Capital.

Armis was founded in 2015 by Yevgeny Dibrov, Nadir Izrael and Tomer Schwartz (who is no longer in the company). Dibrov and Izrael met during their military service, although they served in separate units – both graduates of Unit 81 (The Technological Unit of the Intelligence) and cybersecurity elite 8200.

Later, the two studied together Computer Science at the Technion’s Outstanding Program and integrated into the high-tech industry. Dibrov as the first employee in Adallom and was involved in security for cloud computing systems. Adallom was sold to Microsoft. Izrael led Google’s autocomplete engine technical team, “Google Suggest.”

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Aramis, which is cloud-based and does not require local server installation, enables users to discover and analyze all network-connected IoT devices.

Armis also released a report which found that cyberwarfare attacks are on the rise worldwide. By 2025, said the company, leading analysts predict that cyber attackers will have weaponized operational technology, potentially even against humankind.

Armis VP Chris Dobrec told The Register, “Given the emphasis on cybersecurity over the last decade, where it’s gone from stealing data to industrial espionage to out and out extortion with ransomware. And clearly the situation in Ukraine has heightened awareness. The geopolitical situation, from my perspective, has on the one hand, heightened awareness. But I was surprised that a third of respondents still don’t feel prepared.”

Founded in 2022, Ledge is a command center for payments built for finance teams operating at scale. Ledge boasts that it empowers finance teams with tools to centralize their payments data, get a real-time payments snapshot, automate multi-way reconciliation, identify problem transactions, accelerate their investigations, and dramatically lower the risk of losses, all without any engineering support.

“We saw first hand in previous roles that finance teams are losing visibility over payments, losing control of their overall books, and losing crucial time for strategic initiatives, which is resulting in a hit to their bottom lines,” said Tal Kirschenbaum, Ledge’s Co-founder and CEO. “While many CFOs feel like they are dealing with a hair-on-fire challenge as they face an onslaught of mass digital payments being paid in and out, we believe that utilizing the right technology can transform this challenge into a powerful driver of business growth. Our solution unlocks the immense potential of the data behind digital payments. We’re putting finance teams back in control by automating time-consuming tasks while also harnessing AI and the latest tech to uncover high-value business insights currently hidden amongst vast quantities of payments data.”

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