Bellevue-based contract software company SirionLabs has laid off 15% of its company, a spokesperson confirmed to the Business Journal on Thursday.
The spokesperson said the layoffs, which occurred earlier this month, impacted 130 employees in North America, India and Europe. The company had about 865 employees before the layoffs.
In a statement, SirionLabs said the layoffs were "part of a broader strategic reorganization that will put the company on a path to long-term profitable growth."
The layoffs come just weeks after SirionLabs added $25 million to its Series D round, which the company first announced last May. Between two injections of funding, the total round was $110 million. Brookfield Growth provided the Series D add-on, while Partners Group led the initial $85 million round, with participation from Avatar Capital, Sequoia Capital and Tiger Global.
When the company announced the first wave of funding for its Series D in May, SirionLabs had 600 employees, according to co-founder and CEO Ajay Agrawal, and it planned to add about 200 employees over the course of the year.
SirionLabs, founded in 2012, makes technology to help clients create and manage contracts. Its tools include contract analytics, compliance automation and collaboration.
The company says it has managed more than 5 million contracts worth more than $450 billion. On its website, SirionLabs lists Unilever, IBM and BP as clients. In addition to Bellevue, SirionLabs lists offices in London, Paris, Singapore, Berlin, Sydney and Gurgaon, India.
SirionLabs isn't the only local contract software company to lay off employees recently. Bellevue-based Icertis earlier this month laid off an undisclosed number of workers. A spokesperson for Icertis said most of the impacted roles were in sales and marketing.
Layoffs have swept through several Seattle-area tech companies in recent weeks, notably Amazon and Microsoft, but small and mid-size employers have been impacted as well. Tax software company Avalara laid off employees this month, as did interviewing startup Karat.
