One other Israeli tech unicorn has introduced a spherical of layoffs. Cybersecurity firm Aqua Safety is shedding 65 staff, representing 10% of the corporate’s workforce. The layoffs embody 20 staff working in Israel. The corporate develops expertise for safeguarding functions within the cloud, a tech setting referred to as cloud native safety.
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The corporate stated, “At the moment, resulting from altering market circumstances, we’re compelled to make a number of modifications designed to deal with the corporate’s sturdy core actions, as a way to proceed the corporate’s development and profitability in 2023 and past. We’re doing our greatest to assist the staff who’re affected by this determination to search out their subsequent skilled path, with shut help {and professional} steerage in no matter path they select.”
In March 2021, Aqua Safety raised $135 million at an estimated firm valuation of greater than $1 billion, thus making it a unicorn. The financing spherical was led by ION Crossover Companions, bringing the entire quantity raised by the corporate to $265 million. Different buyers in earlier rounds included M12, Lightspeed, Perception Companions, TLV, Greenspring and Acrew Capital.
Final Friday, a number of sources conversant in the matter confirmed to “Globes” that Israeli firm Cognyte is implementing a second spherical of layoffs over the previous few months, shedding 100 extra staff, or 5% of the corporate’s workforce.
Printed by Globes, Israel enterprise information – en.globes.co.il – on December 5, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
