Armis
Armis maps and secures every connected device, IT, IoT, OT, and medical, now inside ServiceNow.
On the record
Checkpoint: ServiceNow Q2 2026 earnings, first full quarter showing Armis margin and integration impact
The call
Armis now sits inside ServiceNow with its device data intact; the open question is whether integration dilutes the specialized OT and medical device team over time.
Armis is a company that monitors all the devices connected to a business's network, from computers to medical equipment to factory machines, and spots security problems in real time. It is hard to copy because it has spent years collecting data from those devices at 40 percent of the Fortune 100, and hospitals and power plants trust it for safety reasons, which big software companies like Microsoft cannot easily steal. The biggest risk over the next few years is not that someone will build a better product, but that ServiceNow, which bought Armis in 2026, might blend it into its other software in ways that lose customers or talented workers.
Why
01
AI pressure: None apparent. Armis uses AI itself (Centrix AI Assistant) to query its device data; no generic AI tool replicates its telemetry base. Could AI do the core job? Unlikely.
02
Bigger players: Microsoft Defender for IoT. Microsoft is pushing Defender for IoT into OT and IoMT, but hasn't shown Fortune 100 grade parity or won share yet. Could a giant copy it? No, they are blocked.
03
What protects it. Roughly 7 billion real device records across IT, OT, IoT and medical gear, plus trust from regulated critical infrastructure customers.
What would change this call
ServiceNow Q2 2026 earnings (July 22, 2026) breaks out Armis contribution or margin drag. Shows whether integration is boosting growth or dragging profitability.
Armis brand or product name disappears into 'ServiceNow Security' within 12 months of close. Would indicate absorption rather than continued independent operation.
Microsoft Defender for IoT wins competitive bids against Armis at Fortune 100 or critical-infrastructure accounts. Would show the telemetry/trust moat is being breached by a shipped rival product.
Armis brand or product name disappears into 'ServiceNow Security' within 12 months of close. Would indicate absorption rather than continued independent operation.
Microsoft Defender for IoT wins competitive bids against Armis at Fortune 100 or critical-infrastructure accounts. Would show the telemetry/trust moat is being breached by a shipped rival product.
Key numbers
- Armis tracks 6.5 to 7 billion assets worldwide
- ServiceNow paid $7.75B cash to acquire Armis
- Armis passed $300M ARR in August 2025
Named risks
- Post-acquisition integration attrition or team consolidation inside ServiceNow.
- Analysts split on whether Armis deal is a margin drag; CLSA $72 bear target vs Oppenheimer $140 bull target ahead of July 22, 2026 earnings.
- Employee headcount figures inconsistent across sources (691 to 1,175), signaling possible post-deal volatility.
- Armis brand could be dissolved into generic ServiceNow Security branding, dispersing specialized OT/IoMT team.
- Microsoft Defender for IoT could eventually reach competitive parity in OT/IoMT segments.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Claroty | contesting | Ranked alongside Armis in top cyber-physical security vendors, per Gartner-based ranking July 12, 2025 |
| Nozomi Networks | contesting | Pure-play OT specialist backed by Schneider Electric and Mitsubishi, competing in same MQ category as of July 2025 |
| Microsoft Defender for IoT | contesting | Named as watch-item but has not shipped Fortune-100-grade OT/IoMT parity as of mid-2026 |
| Palo Alto Networks | gaining on | Dominant in Forrester's OT defense wave but has not closed IoT/IoMT visibility gap, prompting ServiceNow to buy Armis in Dec 2025 |
| Cisco | gaining on | Longstanding incumbent that had years to close OT/IoMT visibility gap before ServiceNow's $7.75B Armis purchase, Dec 2025 |
Questions people ask
- Is Armis still an independent company in 2026?
- No. ServiceNow completed its acquisition of Armis on April 20, 2026 for approximately $7.75 billion in cash, making Armis a wholly owned subsidiary rather than a standalone private company.
- Who owns Armis now?
- ServiceNow (NYSE: NOW) owns Armis after closing its $7.75 billion all-cash acquisition on April 20, 2026. Armis had previously raised a $435M Series E at a $6.1B valuation just weeks earlier, on November 5, 2025.
- Is Armis profitable?
- No standalone profit figure is public. In November 2025 CEO Yevgeny Dibrov said Armis, then at roughly $300M ARR, aimed to hit $500M ARR and become cash-flow positive before an IPO, a plan overtaken by the ServiceNow acquisition weeks later.
- Could AI replace Armis's product?
- Unlikely soon. Armis's moat is proprietary real-time telemetry on 6.5 to 7 billion IT/OT/IoT/IoMT assets (per ServiceNow, April 20, 2026), which generic LLMs cannot replicate without equivalent sensor deployment; AI features like its Centrix Assistant augment rather than replace this data layer.
- Who is Armis's biggest competitor?
- Claroty and Nozomi Networks are the closest OT-security rivals, per a July 12, 2025 Gartner/BankInfoSecurity cyber-physical security ranking. Microsoft Defender for IoT is a watch-item but has not shipped Fortune-100-grade OT/IoMT parity as of mid-2026.
- How much money has Armis raised and at what valuation?
- Armis closed a $435 million Series E on November 5, 2025 at a $6.1 billion valuation, led by Growth Equity at Goldman Sachs Alternatives, up from a $4.5B tender-offer valuation in August 2025, shortly before ServiceNow's $7.75B acquisition offer.
Timeline
- 2026-06-12Armis upgraded Centrix AI Assistant with executable remediation guidance, not just dashboards
- 2026-05-05ServiceNow launched Autonomous Security & Risk, combining Armis and Veza
- 2026-04-20ServiceNow completed $7.75B all-cash acquisition of Armis
- 2026-02-24Armis launched Developer Portal and API hub
- 2026-02-10Armis launched Centrix for Application Security; benchmark found 18 GenAI models 100% failed secure coding tests
- 2025-12-22ServiceNow announced definitive agreement to acquire Armis for approximately $7.75 billion
- 2025-11-05Armis closed $435M Series E at $6.1B valuation, up from $4.5B in August 2025
- 2025-08-04Armis surpassed $300M ARR, per company announcement at Black Hat
- 2023-09-13Armis rebranded platform as Armis Centrix with AI-powered features
Revision history
21 July 2026
First assessed. Hard to displace. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Cybersecurity firm Armis valued at $6.1 billion in latest funding round (2025-11-05)
- Armis Launches Armis Centrix, the AI-powered Cyber Exposure Management Platform (2023-09-13)
- ServiceNow completes Armis acquisition, closing the gap between asset visibility and cyber risk (2026-04-20)
- Cybersecurity Leader Armis Closes $435 Million Round at $6.1 Billion Valuation (2025-11-05)
- ServiceNow to acquire Armis to expand cyber exposure and security across the full attack surface in IT, OT, an (2025-12-22)
- Armis Surpasses $300M ARR as Demand for Exposure Management Security Soars (2025-09-08)
- Working at Armis Security (2026-06-30)
- Employee Count & Headcount Data (2026-06-29)
- Armis Named to Inc.'s 2024 Best Workplaces List (2025-09-08)
- Armis Launches Armis Centrix for Application Security (2026-02-10)
- Armis Launches Developer Portal (2026-02-24)
- How the Armis Centrix AI Assistant is Empowering Security Teams to Get Things Done (2026-06-12)