Rapid7 cuts 12% of workforce to build AI-first platform
Rapid7 announced it is letting go of 12% of its team as it shifts focus to building an AI-first platform.
The company says this tough call, costing about $10 million to $11 million in restructuring charges, mainly related to severance and other employee costs, is meant to streamline things and boost innovation.
CEO Wael Mohamed shared that the move will help Rapid7 deliver smarter, faster solutions for its customers.
Rapid7 partners with Anthropic for cybersecurity
There is a new leadership team on board, including CFO Rafe Brown and Chief Product and Technology Officer Dejan Deklich, who is responsible for developing the company's AI-first platform.
Even with a slight revenue dip, Rapid7 is financially solid with $702.6 million in cash, cash equivalents and government securities, and it is teaming up with Anthropic's Project Glasswing for advanced cybersecurity work, showing they are serious about leveling up with AI.