Based on one post, it looks like their runway is running short after their insane hiring spree. It's definitely not a good time to be running low on cash.
Used to work there. They hired way too fast and nothing was accomplished because it was so disorganized. I saw the layoffs post and it didn’t shock me tbh. They claimed to be pre ipo when most of the hiring happened but at this point I think the layoffs were done to be sold to PE or a competitor.
It’s been almost a year since their 110MM series C so I was expecting some sort of news around this time. Their headcount growth over the last year seemed unsustainable, and looks like they’re realizing this. Security Industry has been seeing high valuations, but Automox seems to be a quiet company and maybe not nailing their PMF. Seems like execs are inexperienced when it comes to growth at all costs playbook and playing with the big dogs.
What do you think is next? Series D or sale? Series D could be a down round at this point given overall market conditions.
Yes, 16 of the 19 open positions are sales related, so their strategy is sell, sell, sell. Which is somewhat odd given their product should really sell itself if it’s built properly. A small sales team and some BD / enterprise reps should be sufficient. Should be an engineering-first company IMO.
Yeah I was impacted by layoffs. I wonder if there is a way to know startups success from before. Which companies are safe to join with impending recession coming.
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What do you think is next? Series D or sale? Series D could be a down round at this point given overall market conditions.
Bunch of new execs are in and made dramatic changes including this layoff