Igneous, a Seattle startup that helps corporations handle unstructured information throughout quite a lot of techniques, has laid off workers.
A spokesperson declined to supply particular particulars concerning the variety of cuts when contacted by GeekWire.
“On this troublesome financial atmosphere, we’ve wanted to do a discount in power,” the spokesperson mentioned in an announcement. “We proceed to serve our prospects and work with our companions to ship worth.”
Igneous has 69 workers, based on LinkedIn.
Based in 2013 by veterans of Isilon Methods and NetApp, Igneous’ platform offers visibility and storage for unstructured information, or info that isn’t simply categorized, each within the cloud or on-premise.
Igneous initially offered a information equipment for corporations to assist handle on-premises storage techniques however expanded to develop providers geared towards cloud computing. Clients embody The Allen Institute of Mind Science, OpSec, PAIGE, Tippet Studios, and Altius Institute.
The corporate raised a $25 million Sequence C spherical in March 2019 led by WestRiver Group, which pushed complete funding up to now to $70 million. Current buyers together with Madrona Enterprise Group, NEA, Vulcan Capital, and Redpoint Ventures additionally participated within the spherical.
The startup was led by co-founder and former CEO Kiran Bhageshpur. He left the CEO function in June after “the chance to step again from my function because the CEO of Igneous offered itself,” according to a blog post. Bhageshpur, who additionally left the board this month, is “taking a really prolonged break,” based on his LinkedIn.
Dean Darwin, a former exec at F5 Networks and Palo Alto Networks, is now CEO and president. Darwin joined the corporate’s board final yr.
Bhageshpur was beforehand vp of engineering within the Isilon Storage Division at EMC, which acquired Seattle startup Isilon for greater than $2 billion in 2010. One other Isilon engineering vet, co-founder Jeff Hughes, is CTO at Igneous. The corporate’s third co-founder, Byron Rakitzis, was the primary worker at information administration large NetApp.
Layoffs hit the tech trade when the COVID-19 pandemic hit earlier this yr. Almost 600 tech startups have laid off almost 80,000 workers since March 11. Some Seattle-area corporations akin to Amplero and Rubica have shut down altogether.
But a report from OpenView Venture Partners famous that enterprise cloud software program companies are largely “recession-proof” partially because of the elevated reliance on cloud providers amid the pandemic.
A latest survey of leaders from corporations ranked on the GeekWire 200, our listing of the highest privately-held tech startups within the Pacific Northwest, confirmed majority of high startups in Seattle and the Pacific Northwest are seeing little or no impression on their companies from the pandemic, or perhaps a optimistic impression.