BillGo, a Fort Collins, Colorado-based bill management and payments company, will lay off 80 employees in late March.
The layoffs will take place at BillGo's Fort Collins headquarters and will include workers in several remote locations: Arizona, California, Georgia, Illinois, Minnesota, New York, Texas and Virginia, according to a Worker Adjustment and Retraining Notification Act letter submitted to the Colorado Department of Labor and Employment office on Jan. 31.
BillGo didn't respond to requests for comment from Colorado Inno.
According to the WARN letter, the Fort Collins layoffs are expected to be permanent and are the result of a "material change" in the company's current "business opportunities."
The layoffs are expected to occur on March 31, impacting software engineers, data analysts, team leads and client support specialists, among others. BillGo's vice president of cloud operations, vice president of data strategy and analytics and corporate controller vice president are also expected to be let go.
None of the impacted employees are represented by a union, per the WARN filing.
This layoff announcement comes less than one month after the company raised $2.5 million, according to a Form D filed with the U.S. Securities and Exchange Commission on Jan. 16. This round of funding came as an option, warrant or security, per the filing.
BillGo has raised at least $158 million since its founding in 2015, including roughly $94.3 million in May, according to Form Ds.
BillGo's payment platform allows users to manage their day-to-day bills and subscriptions. Its users include more than 32 million consumers and approximately 178,000 fintech companies, billing agencies and financial institutions, according to BillGo's website.
