Cybersecurity company Axonius, which is valued at $2.6 billion, has cut the jobs of about 100 employees, which is roughly 10% of its 900-person workforce. This decision is part of the company’s efforts to streamline its operations and reorganize after growing quickly in recent years.
Axonius was started in 2017 in New York by three people-Dean Sysman, Ofri Shur, and Avidor Bartov—who all used to work in top cybersecurity teams in the Israeli Defence Forces.
The company makes software that helps businesses manage and protect all the devices on their networks. Their system keeps track of all assets, finds security weaknesses, and helps enforce security rules automatically.
Axonius has gotten a total of $595 million from investors through six funding rounds, with the latest one led by Accelmed and Silver Lake.
In 2023, the company made more than $100 million in yearly revenue and works with big clients like News Corp., Schneider Electric, and important U.S. defense companies. Earlier this year, Axonius bought a cybersecurity company called Cynerio from Israel for $180 million.
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