Skybox Security shuts down, lays off 300 employees as Tufin acquires assets
The Israeli cybersecurity firm ceases operations, leaving workers without final paychecks.
Israeli cybersecurity company Skybox Security has laid off all its employees and ceased operations. The company employed approximately 100 people in Israel and another 200 in the United States.
In Israel, employees were informed that their final salary would not be paid and were advised to contact the National Insurance Institute. On Monday, Skybox’s CEO, Mordecai Rosen, held a meeting with employees to officially announce the company's closure and the layoffs. Simultaneously, an email was sent to all employees regarding their next steps.
In a statement issued to its employees, the company wrote that it is entering the final phase of its existence and is shutting down. "Liquidation is the final step in closing a company. It involves ceasing operations, selling assets, and using the proceeds to pay creditors, including employees."
At the same time, Skybox sold all of its business and technology to Israeli cybersecurity company Tufin. In a statement published on Tufin’s website, the company CEO Ray Brancato wrote: "On February 24, 2025, Skybox made the difficult decision to close its operations effective immediately. For those impacted by this event, we understand this is an uncertain time, and we want to assure you that Tufin is here to help plot your path forward. As the leader in Network Security Policy Management, we are committed to providing a smooth transition for Skybox customers, ensuring you have the tools, expertise, and guidance to continue securing your networks without disruption. Tufin is the most financially stable company in our industry—we are profitable, growing, and well-positioned for the future. We know that Skybox customers have been impacted by their sudden closure, and we want to reassure you that Tufin is here for the long run."
In 2017, Skybox raised $150 million in a major funding round led by CVC Capital Partners, which invested $100 million, with an additional $50 million coming from London-headquartered Pantheon Ventures. That round took the company's total funding to $288 million. In early 2016, the American investment fund Providence acquired 75% of Skybox for $96 million, valuing the company at $120 million.
Skybox was founded in 2002 by Gidi Cohen, who served as CEO before being succeeded by Rosen. The company developed cybersecurity management software that uses advanced analytics to prioritize network risks and provide recommendations for optimal responses. Its technology was designed to address complex network environments, including physical, virtual, cloud, and operational technology (OT) infrastructures.
