Sydney NFT gaming startup Immutable, has cut 20 staff from its team, less than five months after raising $280 million. CNET’s Jackson Ryan reports that Immutable CEO and cofounder James Ferguson announced the cuts, which account for around 6% of total staffing, at an all-hands meeting held via Google Meet on Monday. Staff were offered… Read more »
Debt collection fintech Indebted has raised $22.5 million in a round that has doubled the company’s valuation to $200 million. But the round, led once again Perennial Value Management, which came on board 12 months ago to lead a $25m Series B last July, comes as the business also sheds 17% of its staff, with… Read more »
Parcels delivery challenger brand Sendle is the latest startup to trim its sales, cutting 12% – around 26 positions – from its team. The eight-year-old company, which pitches itself as the pugnacious alternative to Australia Post, raised $45 million 12 months ago from the likes of ASX-listed AP Ventures and NRMA Insurance. In the past… Read more »
Over the past few weeks, you’ve probably seen a flurry of news stories popping up around fast-growing, sexy startups all of a sudden going through layoffs. For a lot of young talent who began their careers post-GFC, this is our first time navigating the world of work in a significant market downturn (and particularly one… Read more »
HealthMatch, a five-year-old medtech that’s like Tinder for clinical trials, matching researchers with patients, has been forced to halve its team, shedding 18 jobs, as the local tech sector braces for a long startup winter. The cuts come 18 months after Paul Bassat’s Square Peg Capital led an $18 million round in the Sydney-based startup, which… Read more »
Melbourne cryptocurrency startup Banxa is shedding 30% of its staff amid the current digital assets crash and a plunging share price. The fintech, founded in 2014 and listed in Canada on the Toronto Stock Exchange’s Venture Exchange in January 2021 (TSXV:BNXA). Banxa claims to be “one of the fastest growing fiat (cash) to Web3 solutions… Read more »
Creative marketplace Envato is one of the first globally-focused Australian tech companies to shed jobs amid a US tech downturn, with 100 jobs to go. While Tesla boss Elon Musk flagged cutting 10% of the EV maker’s 100,000-strong workforce, and the US tech sector shedding 16,000 jobs in May, cutting staffing continues in June, with… Read more »
People and culture platform Culture Amp has been forced to shed 8% of its workforce as global impact of coronavirus hits the international arms of the business. CEO and co-founder Didier Elzinga announced the redundancies to the team on Thursday, with 36 positions going. While the company continues to grow, it has revised down growth… Read more »
From Perth to Paris: How an Aussie startup for teacher training won the Cartier Women’s Initiative
Antler Investor Memo Series: Kidly is taking the pressure off parents to make sure their children have fun
NSW startup sector sounds the alarm as the state government turns off funding taps in pre-budget review
Female-founded edtech Cleverbean raises $200,000 to reduce teach burnout
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