Posted on August 04, 2022
In December, automation-software startup Hyperscience said it raised $100 million in venture capital from Tiger Global Management, Bessemer Venture Partners and other firms at a post-investment valuation of $1.65 billion.
Then last week, less than three months later, a harsh reality set in: The eight-year-old company laid off 100 workers, or 25% of its staff, after failing to meet its financial targets for the fiscal year ending February 28, according to three people with direct knowledge of the matter. And earlier this morning, co-founder and CEO Peter Brodsky stepped down after talking to the firm’s board of directors, Chief Operating Officer Charlie Newark-French told The Information.
https://discord.gg/GUPad7ETad