Sales startup People.ai lays off 18% of staff, raises debt round amid COVID-19 uncertainty
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Oleg Rogynskyy
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Summary
People.ai, a predictive sales startup backed by Andreessen Horowitz, Iconic, Lightspeed and other investors and last year valued at around $500 million, has laid off around 30 people, working out to about 18% of staff, TechCrunch has learned and confirmed.Alongside that, the company has quietly raised a debt round in the “tens of millions of dollars” to make strategic investments in new products and potentially other moves.Oleg Rogynskyy, the founder and CEO, said the layoffs were made not because business has slowed down, but to help the company shore up for whatever may lie ahead.“We still have several years of runway with what we’ve raised,” he noted (it has raised just under $100 million in equity to date).
As said here by Ingrid Lunden, Anna Escher