Aqua Security lays off dozens in global reorganization
Aqua Security lays off dozens in global reorganization
Layoffs include 20 employees in Israel as the cybersecurity firm streamlines operations to focus on profitability.
Aqua Security, a cyber unicorn specializing in securing cloud native applicatons, is laying off dozens of employees worldwide, including an estimated 20 in Israel. The company employs approximately 450 people globally, with its headquarters in Boston and Ramat Gan. According to Aqua, the layoffs are part of a strategic reorganization.
This is not the first workforce reduction for Aqua Security. In July 2023, the company laid off 50 employees—about 10% of its workforce at the time—most of them outside Israel. In December 2022, the company laid off about 65 employees. In January of that year, the company raised $60 million at a valuation of $1 billion. So far, the company has raised $325 million.
Founded in 2015 by CEO Dror Davidoff and CTO Amir Jerbi, Aqua Security offers a platform that detects and prevents cyberattacks across the lifecycle of cloud native applications. According to the company, its security solutions are used by over 500 enterprise organizations worldwide, including 40% of Fortune 100 companies. In April, Aqua announced a collaboration with Orca Security to deliver an integrated cloud protection solution.
In a statement, Aqua Security said, “We recently completed a strategic reorganization aimed at focusing on customer needs and flattening the organization. The new structure simplifies processes and points of contact with customers, enabling us to deliver better value and service. As part of this move, we regretfully had to say goodbye to a small portion of Aqua’s employees globally, including in Israel. Aqua is nearing profitability and is financially stable. These changes will enable us to continue driving growth and innovation while securing cloud native applications in the best way possible, creating new opportunities for both the company and its customers.”
