I saw affected employees posting about it on LinkedIn #layoffs
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.
Imo sale or big down round. Too many execs and management left even after the layoffs. Tbh I’ve already assumed that my equity will be 0. Or hopefully enough to cover the exercise cost.
Ibjk60 -- who left? Before or after layoffs?
They/we hired too many people too fast, 1000% growth at all cost came with its challenges. Bunch of new execs are in and made dramatic changes including this layoff
Seeing more Automox layoff posts on LinkedIn today
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.