Israeli cybersecurity company Cybereason, which was in the past one of the country’s most promising unicorns in the sector, and even considered an IPO, is embarking on another round of layoffs due to the ongoing crisis that has plagued the company over the past two years.
Dozens of senior employees are expected to be summoned to a hearing. “Globes” has learned that Cybereason president product and R&D Zohar Alon, who was appointed to map out a new direction for the company, is among those who will be leaving. Cybereason CEO Eric Gan, a SoftBank EVP, will remain as head of the company.
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Cybereason, which in the past raised money at a valuation of $3 billion, and had 1,500 employees, has laid off 300 employees over the past two years. Along with other employees who have departed voluntarily, Cybereason currently has an estimated 1,000 employees. Cybereason had been seeking to acquire or merge with a company and the deal was canceled.
Cybereason investor SoftBank, which has suffered losses since the tech crisis broke out in 2022, agreed to continue financing the company in exchange for a reduced valuation and taking control of it. CEO and cofounder Lior Div left the company to be replaced by Gan when Cybereason raised $100 million last April.
Published by Globes, Israel business news – en.globes.co.il – on March 20, 2024.
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