The Israeli-American cyber startup Cyberizen is laying off about 100 employees, several dozen of them in Israel. Sebrizen is engaged in the field of endpoint protection (computers, telephones), an area in which it competes with, among others, Sentinel One and Crowd Strike.
■ The cuts have reached Pleiatica: The company is laying off 250 workers in North America and Europe
■ The cuts reach Fintech: Clarena plans to lay off 10% of employees
■ The shipping start-up AVO lays off most of its employees in Israel and closes its operations in Israel
Prior to the layoffs, Sabrizen employed over 1,500 workers in Israel and around the world. According to LinkedIn, the company has grown by 61% in the workforce in the last year and by 122% in the last two years. Just last month, Sabrizen announced the establishment of a second development center in Israel, in Be’er Sheva, to be added to the center in Tel Aviv. In recent weeks, however, the climate has changed significantly in the technology market, with companies pushing to improve their efficiency and profitability and not just grow at any cost as in the past.
Sabrizen has raised over $ 700 million since its inception and its most recent fundraiser, in July last year, was $ 275 million. This fundraising was done at a value of over $ 3 billion. According to a Reuters report in February, Cyberizen submitted a confidential prospectus to the U.S. Securities and Exchange Commission ahead of an IPO worth more than $ 5 billion.
However, since then the IPO window seems to have closed almost completely. It is unclear whether Cyberizen believes it can still issue and is trying to streamline for that purpose, or whether it is trying to reduce cash burning after realizing that it will not be able to go public any time soon. Cyberizen was founded in 2012 by Lior Dib (CEO), Yonatan Shetrim-Amit and Yossi Naar. An official response has not yet been received from Cyberizen.
Sebrizen’s move is in addition to layoffs taken in recent weeks by many technology companies in various fields. Yesterday (Tuesday) we revealed in Globes that the Chinese-Israeli gaming company Playtica is laying off 500 employees. Last week, the American cloud security startup Lacework announced the dismissal of 300 employees and the fintech startup Bolt announced 240 employees to be laid off.