Startup software for sales Outreach reduces less than 5% staff, but says it is still hiring

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The Seattle-based Outreach, a Seattle-based company, has laid on less than five percent of its employees The move is coming at a time that numerous startups are being recommended to reduce costs and expand runways by cutting staffing.

A spokesperson for the company confirmed the cutbacks at Economic Pitch . The updated headcount has increased to 1,200.

“They are wonderful individuals who have made substantial contribution to Outreach and we’ll help those who are struggling to find a new job,” CEO Manny Medina wrote in an LinkedIn blog post. “This will enable Outreach to not only weather the coming economic storm but also expand our presence in the marketplace.”

An employee who was a former employee posted that on LinkedIn that members of the team that handles content were cut in the course of reductions. The spokesperson for the company said that they is continuing to “add specific new roles across departments.”

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Outreach is the most recent Seattle-based unicorn tech company to go through the dreaded cuts this year. It joins Rad Power Bikes Qumulo and Convoy.

Outreach which provides an AI-powered sales platform was a unicorn-like startup in the year 2019 when it was able to raise 114 million. The company’s value has more than doubled since then, and there are two more fundraising rounds scheduled for the years 2020 and 2021..

Since its inception in 2014, Outreach is home to more than 4600 clients, including Tableau, Okta and DocuSign. The company is currently ranked as No. 3 . Economic Pitch 200 Our list of the most successful privately-held tech companies located in the Pacific Northwest.

The company’s total investment to date has been close to $500 million with its backers comprising Sands Capital, Salesforce Ventures, Operator Collective, Lone Pine Capital, Spark Capital, Meritech Capital Partners, Trinity Ventures, Mayfield, and Sapphire Ventures.

The Puget Sound Business Journal first published on the layoffs.

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