Datera completes defensive funding round and lays off staff

Datera is cutting staff and reducing some salaries to reduce cash burn. The storage software startup last week raised an undisclosed sum in a funding round, CEO Guy Churchward wrote on LinkedIn, which involves “a plan-pivot from ‘foot jammed on gas’ to ‘get to cash flow positive by the end of FY2020”.

Datera said the reorganisation is its response to the covid-19 pandemic and its effect on the storage market.

Blocks & Files understands the company has laid off 10-15 per cent of the workforce and that Churchward has taken a temporary 80 per cent salary cut.

*Source: https://blocksandfiles.com/2020/05/18/datera-funding-round-layoffs/