PRESS RELEASE:
Company poised to capitalize on global cloud migration and increasing security demand
DALLAS–(BUSINESS WIRE)–April 5, 2017–
Armor, The First Totally Secure Cloud Company™, closed an $89 million equity financing led by ST Telemedia (STT). STT has become a joint lead shareholder with The Stephens Group (TSG), the existing majority shareholder. The investment from STT will accelerate the adoption of Armor’s managed security platform for public and hybrid cloud environments.
“Armor protects approximately 1,200 customers across more than 40 countries,” said Chris Drake, founder and CEO, Armor. “Much of our growth has been attributed to word-of-mouth and customers seeking us out as they searched for a reliable security partner. Our goal is for the global community to embrace what our customers already know – Armor’s end-to-end cloud security orchestration platform is the best approach to protect sensitive data backed by measurable results. This additional capital and partnership with STT will help spur innovation, drive brand awareness and broaden global distribution channels.”
As the first company to establish a secure hosted cloud, Armor’s proprietary platform integrates threat intelligence, automated security orchestration and machine learning managed by a world-class security operations center (SOC). Providing 24/7/365 managed protection, detection and response against any cyber threat, Armor delivers industry-best SLAs, including dwell times of less than one day. The company’s flexible solutions also help customers adhere to compliance requirements such as PCI, HIPAA/HITRUST, SOC and ISO.
“Security is a baseline concern as organizations seek to move to the cloud,” said Nikhil Eapen, chief strategy and investment officer, STT. “Protecting data and ensuring compliance is complex and organizations need specialized help to keep pace with increasingly complex cyber threats. For years, Armor has quietly proven the value of their solutions by protecting a large and respectable customer base in a variety of industries. STT is an active investor in technology infrastructure and enterprise software with a strong focus on driving value across our portfolio of communications, media and technology companies. Armor’s strong performance, with shareholder support from STT and TSG, creates real opportunity to gain market share as public clouds continue to gain popularity and awareness of Armor increases.”
“For the last four years, Armor’s capabilities have been presented as our security solution of choice as we expand our footprint and market share within facilities management software,” said Sunil Padiyar, chief technology officer, FacilitySource. “Their ability to consistently execute and provide unparalleled support within cloud environments has been critical for keeping our customer data safe while maintaining the integrity of our platform. Armor solidifies our offering with proven security putting our customers and my team at ease. We look forward to seeing what the future holds as they accelerate growth.”
With an industry-leading TCO, Armor outperforms competitors and do-it-yourself approaches to security. ROI has been calculated by a commissioned study conducted by Forrester Consulting on behalf of Armor detailing Armor’s total economic impact. The study analyzed benefits, costs and risks based on use cases from Armor customers. We think these are compelling results that reinforce the company’s ability to reduce the need for customers’ security and compliance staff with its automated orchestration platform.
Credit Suisse acted as the exclusive advisor to Armor in connection with this transaction.
ABOUT ST TELEMEDIA
ST Telemedia (STT) is an active investor in Communications, Media and Technology (CMT) space. Focused on catalysing growth and creating sustainable value for its stakeholders, STT has built a strong portfolio of complementary assets and businesses across the digital value chain. With decades of experience investing in, building and operating CMT businesses across the globe, the company has a proven track record in helping its investments grow and succeed. For more information, please visit www.sttelemedia.com.
ABOUT ARMOR
Armor is The First Totally Secure Cloud Company™ that protects customers’ vital assets and helps prevent data breaches through managed multi-layer security for public and private clouds. The Armor team also applies extensive military cyber security experience for proactive threat detection, response and remediation. Forward-thinking organizations trust Armor for data security and compliance to stay ahead of cyber threats in the cloud. To learn more, visit www.armor.com or follow @armor.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170405005433/en/
Armor
Thomas Moore, 214-212-3079
thomas.moore@armor.com