Paperless Parts started off 2023 by announcing its move into a new 24,565-square-foot space at 60 State St., triple the size of its previous office across from North Station and TD Garden in the West End.
The Boston company, which operates an estimating and quoting platform for job shops and contract manufacturers, said the new space was to accommodate its growing team. Paperless Parts said its team grew by 86% in 2022 and it expected “continued growth over the next 12 months.”
Last week, the company laid off about 16% of its employees. But CEO Jason Ray said in a statement these cuts will help improve the “operational health” of the business — and they’re still planning on hiring for certain key roles.
In January, a Paperless Parts spokesperson said the company had 154 employees, with 124 in Boston. About 25 employees’ positions were eliminated in this round of layoffs, per Ray.
“While it’s never easy to say goodbye to valued teammates this does improve the overall operational health of our business and gives us the ability to be more focused in our investments,” Ray said.
The chief executive said Paperless Parts will continue to fill roles aligned with its “highest priority initiatives” and it doesn’t expect these layoffs to have any impact on its customers. The open roles on the company’s website are for director of engineering, director of platform engineering, field marketing manager and sales account executive. For comparison, in January Paperless Parts had 15 open roles on its careers site, including positions in design, engineering, human resources, marketing and sales.
“I’m grateful for the many contributions made by those that were impacted by the decision. They were — and will always remain — an important part of the Paperless Parts journey, and we will do whatever we can to ensure they’re supported during this transition,” Ray said.
Paperless Parts was founded in 2017. The company last raised a $30 million Series B round in 2022.
The company said much of the employee growth over the last few years has been tied to its business growth. In 2022, Paperless Parts said it doubled its annual recurring revenue and grew its customers by 117%. The company also opened a new office in Encinitas, California, to support the manufacturers that service aerospace companies in Southern California.
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