Company with Seattle office sheds employees after acquiring competitor

Social impact platform Submittable, which is headquartered in Missoula, Montana, but has an office in Bellevue, has laid off employees after acquiring competitor WizeHive.

The companies announced the acquisition on Thursday, and a Submittable spokesperson on Thursday confirmed the layoffs. According to the spokesperson, Submittable is laying off 40 employees across both companies, leaving 302 at the combined company.

"Integrating the two teams has necessitated some challenging decisions, including some job reductions for both companies to adjust our organization, eliminate redundancies and optimize operations," the spokesperson said in an emailed statement. "Submittable recognizes the significant impact this news will have on the affected individuals and is committed to supporting them through this transition."

The companies aren't disclosing the financial terms of the deal. As for the WizeHive brand, the spokesperson said Submittable aims "to create a one-company brand and vision," but the company is focused on integrating the teams for now.

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Submittable, founded in 2010, makes grant management software for governments and foundations. The company also makes tools for employee volunteering, scholarships and relief funds. Submittable counts 11,000 clients, including AT&T and the University of Michigan.

WizeHive, meanwhile, was founded in 2008, according to the company's LinkedIn page. The company is headquartered outside of Philadelphia. WizeHive offers software for grant management, scholarship management and volunteering, among other functions. On its website, the company lists Libro Credit Union and State of Washington Tourism as clients.

Submittable's spokesperson said the company's CEO, Thor Culverhouse, and its chief financial officer, Joe Silver, are based in the Seattle area, along with "several other employees." Culverhouse took over as CEO in 2020. He was previously the CEO of Seattle-based cloud company Skytap, which was acquired by Kyndryl Holdings in May. Culverhouse left Skytap in 2019.

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