US-based startup SirionLabs, which has over 900 employees as per its LinkedIn page, reportedly laid off around 15% of its total workforce earlier this month. The layoffs come barely 15 days after the startup raised $25 million.
In a mail on January 17, Ajay Agrawal, Co-founder and CEO of the contract management startup, informed its employees of the decision to cut 15% of the workforce across locations, as per a report by Inc42 citing a source.
Backed by Sequoia Capital and Tiger Global, the startup has a presence in the US, the UK, France, Australia, India, Singapore, and Germany. Three weeks ago, SirionLabs announced raising an additional $25 million in Series D funding from Brookfield Growth, closing the round at $110 million. Last year, it raised $85 million led by Partners Group.