Aqua Security lays off staff weeks after management shake-up
The cyber company is firing dozens of employees as new leadership launches restructuring aimed at long-term stability.
Cyber unicorn Aqua Security is laying off dozens of employees, including about 20 in Israel. This is the company’s third round of layoffs in recent years. Aqua employs roughly 360 people in total.
Aqua Security has developed a platform that detects and stops cyberattacks using a single integrated system. The company was founded in 2015 by CEO Dror Davidoff and CTO Amir Jerbi. Both recently stepped down and were replaced by new management, with Mike Dube, formerly president and chief revenue officer, taking over as CEO.
In January of last year, the company raised $60 million at a valuation of $1 billion. To date, Aqua has raised $235 million.
Aqua Security said it initiated a reorganization “designed to strengthen the company’s long-term stability and sharpen its focus on innovation in its core products and key markets. This supports Aqua’s goal of achieving cash flow independence and improving responsiveness by bringing engineering teams and customers closer together. All levels of customer engagement, support, and service remain unchanged.”
