Cyber unicorn Aqua axes 10% of workforce
Cyber unicorn Aqua axes 10% of workforce
Aqua, which raised $60 million at a $1 billion valuation earlier this year, is laying off around 50 employees.
The cyber unicorn Aqua Security is laying off 50 employees, which make up 10% of the company's workforce. Calcalist has learned that most of those laid off are not based in Israel.
Aqua Security has developed a cyber platform that detects and stops cyberattacks throughout the lifecycle of cloud-native applications using one integrated platform. Aqua was founded in 2015 by Dror Davidoff, CEO and co-founder, and Amir Jerbi, CTO and co-founder. Its headquarters are located in Boston and Ramat Gan, and it employs 500 people. In December 2022, the company laid off about 65 employees, including 20 in Israel. In January, the company raised $60 million at a valuation of $1 billion. So far, the company has raised $235 million.
Aqua said in response: "Aqua has carried out an organizational streamlining move to focus the company and its resources to address the most pressing needs of our customers, protecting the critical applications they develop and manage in the cloud. The move is global and also affects our employees in Israel, proportionally to the rest of the world.
"After a year in which we grew by 30%, this step will ensure continued growth according to the macroeconomic situation.
"The move will not affect Aqua's customers, and we continue to focus on the quality of the product and service we provide them and on continuing innovation in the cloud-native world."
