Israeli cyber company Cybereason has laid off about 100 employees out of about 1,500

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by Ifi Reporter Category:Financial Jun 1, 2022

The cuts in the high-tech industry continue: The Israeli cyber company Cybereason has laid off about 100 employees out of about 1,500 employees, about 6% of the company's workforce. The layoffs are global and several dozen of those laid off are Israelis.
The company has not yet explained the reason for the decision, but it comes against the background of horizontal layoffs that have occurred in recent weeks in many companies abroad and in Israel, including in the cyber industry - and including well-funded companies. Adam, after a period of rapid growth in the number of employees, indeed, Sabrizen, established in 2012, recorded an accelerated jump of 76% in the number of employees only in the last year - in mid-2021 the company employed about 850 employees and in 2019 it employed about 500 employees.
It is possible that the streamlining process is also related to the company's plans to issue on the stock exchange. Earlier this year, Reuters reported that the company had filed a confidential prospectus ahead of an IPO on Wall Street, hoping to get more than $ 5 billion worth. However, since then the markets have crashed and it is not yet clear how this has affected the company's plans.
Cybereason has raised $ 664 million to date, of which in a huge $ 275 million round in July 2021 that gave the company an estimated value of about $ 3 billion. One of the investors in the company is the Japanese Softbank and Liberty Strategic Capital, founded by Stephen Manuchin, the finance minister in the Trump administration, together with David Friedman, the former US ambassador to Israel. Other investors are CRV, Lockheed Martin, Spark Capital. The company was founded in 2012. By Yossi Naar, Lior Dib and Yonatan Shtrim-Amit, the company deals with the protection of end stations and the corporate network. It detects cyber attacks on its customers by identifying unusual behavior patterns.

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