Boston-based PathAI, one of the largest healthtech companies in Massachusetts, has informed the state that it will be making layoffs.
The company said it expects to lay off 87 employees, 51 of whom are Massachusetts residents. The remaining 36 impacted employees live outside the Bay State. PathAI said most of the employees outside Massachusetts are remote workers.
PathAI disclosed the layoffs in a Worker Adjustment and Retraining Notification (WARN) letter dated June 1. The Boston company, which has its headquarters at 1325 Boylston St., wrote in the filing that the scheduled date of termination for affected employees will be July 31.
PathAI did not respond to multiple requests for comment regarding the layoffs.
Last year, PathAI ranked seventh on the Business Journal’s list of largest healthtech companies in Massachusetts. PathAI reported it had 681 employees with 295 of those team members in Massachusetts. The company also shared that it had raised $255.2 million to date. PathAI did not participate in the 2023 list.
PathAI is applying artificial intelligence to pathology. The company is building an AI-powered software to help pathologists make more-accurate diagnoses when looking at tissue samples.
The company’s technology has caught the attention of investors like D1 Capital Partners and Kaiser Permanente, which led the investment in PathAI’s $165 million Series C round in 2021.
The Fenway-based startup launched in 2016. Andy Beck, PathAI co-founder and CEO, told the Business Journal at the time of its Series C investment that the company has seen "tremendous growth" of its technology in areas like oncology and inflammatory bowel disease.
At the time of its Series C raise, PathAI reported a total headcount of 185 people, including 150 based in the Boston area and 35 remote workers.
Shortly after raising its largest round of funding to date, PathAI made headlines again for its acquisition of Memphis-based laboratory-services provider Poplar Healthcare LLC. The companies said that Poplar Healthcare’s 350 employees and facilities would become PathAI’s diagnostics division and would remain based in Memphis.
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