Last Armor valuation
$92M
Series D · Jun 2013
Last Armor funding round
$89M
Series F · Apr 2017
Cumulative funding Armor raised
$126M
across 3 funding rounds
Key investors in Armor
ST Telemedia
About Armor
Armor is a Plano-based cybersecurity provider delivering managed detection and response for cloud, on-premises, and hybrid environments. The company protects retail, healthcare, financial, and eCommerce clients with AI-driven threat intelligence, vulnerability management, and 24/7 security operations center monitoring. Acquired by Kaseya in 2021, Armor serves enterprises including MGM Resorts.
Founded
2009
HQ
Dallas, TXWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Valuation
$92M (Jun 2013)
Armor Valuation
Armor is currently valued at $92M, based on its Series D in June 2013.
Armor valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2013 | Series D | $92M |
Armor Funding History
Armor has raised a total of $126M across 3 funding rounds.
Armor's first fundraising round was a $12M Series D in June 2013. The most recent completed round was a $89M Series F in April 2017.
Armor funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2017 | Series F | ST Telemedia (lead) | $89M | - | Armor, a Dallas-based cybersecurity company founded in 2009, provides managed security services for public and hybrid cloud environments, integrating threat intelligence, automated security orchestration, machine learning, and 24/7 security operations center support. The company serves approximately 1,200 customers across more than 40 countries with a multi-layer approach to threat detection, analysis, remediation, and compliance for regulations like HIPAA and PCI. At the time of the April 5, 2017 announcement, Armor employed about 250 people and generated between $50 million and $100 million in revenue, with 80% from direct sales and 30-40% through partners, aiming to shift to 80% through channels and software providers. On April 5, 2017, Armor closed an $89 million equity financing round led by ST Telemedia (STT), a Singapore-based investor focused on communications, media, and technology. STT became a joint lead shareholder alongside existing majority owner The Stephens Group. The funds, with over half allocated to growth after early investor payouts, were earmarked for accelerating product adoption, spurring innovation, expanding sales and marketing globally, enhancing R&D, and pursuing acquisitions in cloud automation, machine learning, and big data analytics to round out its platform. Armor positioned itself ahead of market trends in detection and response services, capitalizing on rising corporate cybersecurity priorities amid major breaches. The investment enabled global business expansion, brand awareness, and distribution channels. Credit Suisse advised on the transaction. Post-funding, Armor aimed to strengthen offerings, increase partner revenue to 60%, and leverage its industry-leading TCO and ROI, as validated by a Forrester study on customer use cases. |
| Apr 2014 | Series E | - | $25M | - | - |
| Jun 2013 | Series D | - | $12M | $92M | Armor is a cybersecurity company specializing in cloud security solutions. In June 2013, Armor completed a Series D funding round raising $11.75 million led by The Stephens Group at a post-money valuation of $91.51 million. The investment supported the company's growth in managed cloud security services. Armor has continued to expand its funding, raising a total of approximately $148 million across multiple rounds, with the latest being a Series F of $89 million in April 2017 led by ST Telemedia. The company serves customers globally, focusing on managed detection and response for cloud environments. |
Who has invested in Armor?
1 investor has backed Armor across its funding rounds, including ST Telemedia.
Lead investors include ST Telemedia.
Armor Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free TrialAcquisitions by Armor
Armor has acquired 1 company to date.
Last acquisition by Armor was on August 3rd 2023. Armor acquired Quantum for undisclosed valuation.
Latest Acquisitions by Armor
| Description | Quantum is a cybersecurity firm providing data protection and risk management solutions. Headquartered in Israel, it offers encryption platforms and zero-trust access for cloud environments, serving financial institutions in Europe and the Middle East. |
| HQ Country |  |
| HQ City | Singapore |
| Deal Date | 3 Aug 2023 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Armor acquisitions and their M&A valuation multiples. Start Free Trial | |
Armor Competitors
Armor competitors include listed companies like Rank One Computing and Intercede Group, and private ones like RiskOptics, CYFIRMA, Bigleaf Networks and Keepit.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $91M | - | |
| Singapore | Private | - | - | $90M | - | |
| Portland, OR | Private | - | - | $95M | - | |
 Copenhagen | Private | $8M | - | $97M | 12.1x | |
| United States | Publicly listed | $17M | ($2M) | $84M | 3.6x | |
 United Kingdom | Publicly listed | $23M | $5M | $101M | 3.0x |
Armor Public Comps
Armor is still privately-owned, but its public comps include Hancom WITH, Quick Heal Technologies, Rank One Computing, Intercede Group, Spectra Systems, Wins Technet, Corero Network Security, Aton Inc, CyCraft Technology and Loihde.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $561M | $10M | 0.3x | - | 14.2x | - | |||
| $27M | ($719K) | 2.3x | - | (88.4x) | - | |||
| $17M | ($2M) | 4.3x | 3.6x | (47.0x) | - | |||
| $23M | $5M | 3.3x | 3.0x | 15.0x | 12.7x | |||
| $64M | $30M | 1.5x | 1.5x | 3.2x | - | |||
| $72M | $18M | 0.2x | - | 0.7x | - | |||
| $25M | $2M | 3.2x | 2.7x | 46.4x | 18.3x | |||
| $49M | $4M | 2.3x | - | 27.9x | - | |||
This data is available for Pro users. Sign up to see all Armor competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Armor
| When was Armor founded? | Armor was founded in 2009. |
| Where is Armor headquartered? | Armor is headquartered in Dallas, TX, United States. |
| Is Armor publicly listed? | No, Armor is a private, VC-backed company. |
| What is Armor's valuation? | Armor was last valued at $92M in its Series D in June 2013. |
| How much funding has Armor raised? | Armor has raised $126M across 3 funding rounds. |
| What was Armor's last funding round? | Armor's last funding round was a $89M Series F in April 2017, led by ST Telemedia. |
| Who are Armor's investors? | Armor's investors include ST Telemedia. |
| Which companies are comparable to Armor? | Companies comparable to Armor include RiskOptics, CYFIRMA, Bigleaf Networks, Keepit, Rank One Computing and Intercede Group. |
| How many companies has Armor acquired? | Armor has acquired 1 company, including Quantum. |
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