IT security is a safe job? Tell that to Norse staff laid off this week.
Jason Belich stashed this in life events
Exclusive One of the more promising security startups of recent years has laid off a sizable chunk of its staff, citing business pressures.
Norse – who you may remember from its fault finding on FreeBSD or its global cyber-attack map – is one of a growing number of intelligence firms that uses a worldwide network of sensors and server racks to track online threats and give advance warning to its paying customers.
Threat intelligence is seen as one of the hottest sectors in IT, with VC money pouring in to sponsor promising startups in the hope of a big payoff later. Just in September, Norse secured $11.8m in funding from KPMG Capital, and has around $42m in VC funds raised so far – which makes the layoffs a little surprising.
As Norse's first engineering employee, and now former Chief Architect, the past 24 hours have been extremely saddening. It's never easy to watch your dreams and hopes ripped away from you. After years of 120-plus hour weeks building most of Norse's products, systems, and infrastructure, I look forward to some well needed sleep, and towards new dreams and opportunities.
These layoffs are surprising. There must be more to this story.
there is.. i know most of it.. mostly due to too many first-timers in the C-suite
probably the most kind way to put it
Yeah, everyone is a first timer at some point.
Hopefully the damage we do as first timers can be contained.
The tech is strong, the value is strong, the data is strong... there's still a great deal about Norse that is very very valuable... just needs the right leadership team to know how to best exploit it.
There were a few ppl at the meeting (they did the dual-meeting technique) who had to vent to that effect, but mostly those who haven't been through this before. Almost 20 years in tech... i've learned it's not worth venting at good people.