Israeli Cybersecurity Firm Axonius Cuts 9% of Workforce Amid AI Pivot
Israeli cybersecurity unicorn Axonius is laying off 9% of its workforce, affecting 66 employees, as it pivots to AI-driven operational methods.
Israeli cybersecurity firm Axonius has announced plans to lay off approximately 9% of its workforce, impacting 66 out of 722 employees globally, with the cuts heavily affecting its research and development center in Israel. According to company management, 46 out of 207 R&D employees in Israel have been summoned for pre-termination hearings as the firm shifts toward automated workflows powered by artificial intelligence.
Founded in 2017 by Unit 8200 alumni Dean Sysman, Ofri Shur, and Avidor Bartov, Axonius specializes in cyber asset attack surface management and automated security policy enforcement. The management explained that the restructuring stems from transitioning to new operational methods driven by AI technologies, which require a leaner workforce.
Over the years, Axonius has achieved significant market valuation and widespread recognition. In March 2021, the company secured a $100 million Series D funding round led by Stripes, propelling its valuation past the $1 billion mark to achieve unicorn status. This was followed in March 2022 by a $200 million Series E round led by Accel and Lightspeed Venture Partners, valuing the startup at $2.6 billion.
