附近上门

Over the past three years, I鈥檝e been reporting on how the startup scene in Austin is booming. Record funding in 2019. New unicorns being born. More outside investors putting money into the market.

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But no city, no matter how much momentum it鈥檚 seen, is immune to the negative economic impact from the spread of COVID-19. Austin in particular already took a big hit when South By Southwest (SXSW) organizers had to cancel the massive annual event just weeks ago.

Now the city, like many other tech hubs across the world, is seeing a flurry of layoffs in its startup community.

Irvine, Calif.-based 鈥搘hich has developed cloud-based software focused exclusively on the restaurant and hospitality industry鈥揷onfirmed to me via email last night that the company reduced its 400-person workforce by “a big chunk” this week. It has a significant presence in Austin. (Read more about that news聽here).

Also, so far this week, Austin Inno鈥檚 (very talented and just an overall good guy) reported on three companies–all of which have raised venture capital funding over the past eight months –that had to lay off staff.

For starters, Austin-based marketing software startup said this week it would be , according to Austin Inno. The company鈥檚 leadership team will also be seeing a 30 percent reduction in compensation, CEO Marc Pickren told Austin Inno. OutboundEngine has about 135 employees after the layoffs.

Pickren told Austin Inno: 鈥淭he layoffs are a direct response to COVID-19 and its sea change impact to the financial markets.”

Last August, the company raised $14.3 million in venture and debt financing, which we reported on here. The venture capital was raised from , , , and . Founded in 2012, OutboundEngine has raised over its lifetime, according to 附近上门 data. The company鈥檚 marketing software provides 鈥渁 responsive website, relevant content created and sent automatically across email and social media, and hands-free social advertising on Facebook and Instagram.鈥� In 2018, the startup had a $23 million annual run rate, according to Pickren.

Layoffs abound

an Austin-based hospitality startup aiming to bridge the gap between Airbnb and hotels, has laid off 38 people, according to an article in The Information cited by Austin Inno. In January, we reported on the fact that The Guild had closed on a $25 million Series B from , MarkVC and , among others. At that time, the company had about 170 employees. That financing brought The Guild鈥檚 total known venture funding to $31.5 million. (Earlier this week, we reported on a number of other high-profile layoffs in the travel and hospitality industries here.)

Lastly, , which uses artificial intelligence to help companies identify disinformation campaigns, has let go of 18 of its employees. The startup announced a $3 million Series A from and last July, and since it was founded in 2015, according to 附近上门 data.

Unrelated to the coronavirus, Austin-based fintech startup said last month it would be as part of a reorganization. That move came just a few months after the company raised a $60 million Series C, which we reported on here.

Earlier this week, we reported on聽nationwide听濒补测辞蹿蹿蝉聽in the travel and hospitality industries, affecting hundreds of employees at corporate travel startup聽s, and .

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