The Stephens Group
Stephens Group
armor

There’s a new buyer on the security tech block with Armor’s $89 million new round

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Security technology services provider Armor is getting ready to do some shopping for new technology thanks to $89 million in fresh funding.

The company, which was majority owned by the private equity firm The Stephens Group, now counts SST Telemedia, a large telecommunications investor, as a co-owner.

The Dallas-based company counts 1,200 customers using its managed internet security services in 40 countries.

The company said it will use the funding to ramp up its sales and marketing efforts, and its research and development initiatives.

Most importantly for the startup community, the old security workhorse will look to buy up businesses that can add to its technology suite around automation, machine learning and big data analytics.

Beyond the company’s technology ambitions, Armor is also looking to grow its business globally.

“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,” says Nikhil Eapen, chief strategy and investment officer, STT.

Armor pitches managed services around threat analysis, detection and remediation for businesses through a hosted service that is compliant with most major regulations, including HIPAA and PCI.

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