Cybersecurity Firm Axonius Lays Off 9% of Staff, Primarily in Israel
Translated & summarized from NEWSru Israel by baba
Israeli cybersecurity company Axonius is laying off approximately 9% of its global workforce, with about 22% of its Israeli development center staff affected. The company cited a transition to AI-driven operations requiring fewer employees. This follows previous layoffs in November and February, and comes after Axonius reported significant revenue growth and substantial investment rounds.
The story in 6 lines · by baba
- Axonius is reducing its workforce by about 9%, impacting 66 of 722 employees globally.
- The Israeli development center will see about 22% of its staff laid off, totaling 46 employees.
- The company attributes the layoffs to adopting AI-driven operational methods.
- Axonius previously reported annual recurring revenue exceeding $200 million.
- The company was founded in 2017 and has raised about $600 million in funding.
- This is the third round of layoffs at Axonius since November of last year.
Israeli cybersecurity company Axonius announced on Monday, November 9th, that it is cutting approximately 9% of its workforce, with the majority of layoffs impacting its Israeli operations. A total of 66 out of 722 employees will be let go. The company's development center in Israel will be most affected, with around 46 of its 207 employees facing termination, representing about 22% of that site's staff. Axonius attributes these reductions to a shift towards new, AI-driven operational methods that require less personnel.
Earlier this year, Axonius reported its annual recurring revenue surpassed $200 million, a 35% increase year-over-year. The company has raised approximately $600 million in total, with its last two funding rounds in 2022 and 2024 valuing it at $2.6 billion.
Founded in 2017 by Dean Zisman, Ofri Shorr, and Avidor Bartov, Axonius has been led by former Okta executive Joe Diamond since the beginning of the year. Diamond succeeded Zisman, who remains as Chairman of the Board.
This is not the first round of layoffs for Axonius. In November of the previous year, the company dismissed around 100 employees, about half of whom were in Israel, constituting roughly 11% of its staff at the time. In February, an additional 35 employees were let go, with seven in Israel. Those earlier reductions were linked to a strategic decision to focus on IT asset discovery and vulnerability management, leading to the closure of its innovation unit, Axonius X.
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