Israeli startup DataRails, which has developed software for financial planning and analysis platforms for Microsoft Excel users, has announced that it is laying off 30 employees, 15% of its workforce, including eight employees in Israel.
The company said, "We have finished the company's strongest sales month and we are still hiring employees in Israel for product and technology development positions. However, unfortunately we have to say goodbye to about 30 employees, the vast majority of whom are from the service and sales departments in the US. Our goal now is to reach profitability, for this purpose we reduced the marketing budgets and are saying goodbye to excellent and dedicated employees. We intend to stand by their side and assist them in the job search process."
DataRails, which was named "Globes" most promising startup of 2021, was founded by Didi Gurfinkel, Eyal Cohen, and Oded Har-Tal. The company has raised $103.5 million to date including $50 million in its most recent financing round in March 2022 led by Qumra Capital.
Elsewhere, Israeli cybersecurity company Perimeter 81 has announced that it is laying off 20 employees, less than 10% of its workforce, most of the employees are in Israel.
Perimeter 81 said, "The company is in constant growth in accordance with its plans. At the same time, and as part of the company's strategy for the coming year, which emphasizes business efficiency and productivity alongside continued business growth, we have decided to make spot adjustments in some of the company's departments, all in accordance with the company's long-term plans."
Perimeter 81 simplifies traditional network security technology with one unified Zero Trust Network as a Service. This approach aims to replace network security based firewall products developed by companies like Check Point and Palo Alto Networks, and the external connection by an enterprise to VPN products. The company, which was founded in 2018 by CEO Amit Bareket and CPO Sagi Gidali, has raised $165 million to date including $100 million in its most recent financing round in June 2022 at a company valuation of $1 billion.
Published by Globes, Israel business news - en.globes.co.il - on December 6, 2022.
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