Bellevue-based cloud technology company BitTitan is laying off 70 workers in its headquarters city starting Jan. 14, according to a Worker Adjustment and Retraining Notification (WARN) from Washington state. The WARN was filed Wednesday.
The layoffs will take place just months after BitTitan's acquisition by Houston-based Idera, which makes productivity software. At the time of the acquisition, BitTitan touted its potential to expand the company.
“As the hybrid cloud drives IT complexity, BitTitan is an important solution for managed service providers to efficiently migrate and manage hybrid cloud environments,” Geeman Yip, BitTitan’s founder and CEO, said in a news release announcing the acquisition. “We’re excited to join Idera and leverage their scale and resources to fuel further growth."
BitTitan and Idera didn't respond to requests for comment. At the time of the acquisition, Idera didn't respond to multiple inquiries about the acquisition's impact on BitTitan employees.
BitTitan, founded in 2007, helps IT professionals integrate and manage all of their fragmented applications. The company announced an acquisition of its own in April, when BitTitan said it was buying San Diego-based Perspectium, a data integration company, for an undisclosed amount.
Not including the more than 75 employees that BitTitan would add through Perspectium, Yip told the Business Journal in April BitTitan had under 200 employees. He added that through organic growth and acquisitions, BitTitan planned to grow to between 300 and 325 employees by the end of 2021.
BitTitan raised almost $31 million in June, according to paperwork filed with the Securities and Exchange Commission, but BitTitan didn't issue a press release announcing the funding round, which is common for tech startups.
Idera was founded in 1999. It operates more than two dozen brands, which help with application development, database management and security testing. At the time of the BitTitan acquisition, Idera said it has over 50,000 clients globally.
