An enterprise software startup based in San Francisco is cutting its workforce.
Nylas CEO Gleb Polyakov publicly announced the layoffs in a blog post on Tuesday.
"Based on market conditions and the need to ensure that Nylas has considerable runway and financial flexibility to navigate this economic downturn, I’ve made the decision to reduce our team by 80 people," Polyakov wrote.
That would indicate cutting more than one-fifth of its workforce. A Nylas representative confirmed to the Business Times that its headcount was around 350 people prior to the layoffs, but didn't provide an exact number.
When it announced its Series C last year, Nylas told the Business Times that it had 155 employees in six markets including San Francisco, New York and London.
"While our funding remains strong and trust and support from our board and our customers remains high, it is imperative that we assess how we can position Nylas with ample financial resources and flexibility during economic uncertainty," Polyakov wrote in the blog post about the decision to reduce its headcount. "We’ve slowed hiring, reevaluated investments, and expenses, and while we’ve systematically focused on other areas first, it has become increasingly apparent that we needed to address our largest investment, the size of our team."
Nylas was founded in 2013 and has raised $175 million. The company hasn't disclosed its valuation.
The company started as an email client and has since broadened its scope to developing application programming interfaces, or APIs, for a range of business communication needs including emails, calendars, scheduling and contacts.
