Seattle-based 98point6 not too long ago laid off 10% of its workforce, however the telemedicine startup stays in “progress mode,” in response to a human assets govt on the firm.
The corporate confirmed the cuts to Startup on Thursday, however didn’t present any specifics on how many individuals had been let go, which positions had been affected, or what prompted the layoffs.
“On July sixth, 98point6 executed a discount in pressure to align with the long run wants of the enterprise,” Cami Blumenthal, vice chairman of individuals, mentioned in an emailed assertion. “Whereas we’re disenchanted to say farewell to members of our staff, we stay in progress mode and are hiring for roles throughout our medical and know-how teams.
“We proceed to precise gratitude to all the staff impacted by this resolution and thank them for his or her contributions in serving to us to attain our mission of delivering equitable entry to major care,” Blumenthal added.
The startup employs 343 individuals, in response to LinkedIn. A former worker who was a part of the latest spherical of layoffs mentioned on LinkedIn that your complete inventive staff was slashed. One other former worker mentioned many members of the advertising and marketing staff had been additionally let go.
Many startups are chopping workers so as to scale back prices and lengthen runway amid the broader financial downturn. Seattle startups akin to Convoy, Flyhomes, Qumolo and Rad Energy Bikes have all had rounds of layoffs this 12 months.
Based in 2015, 98point6 launched to make connecting with a doctor as “easy as sending a textual content or doing a web-based search.” In 2020, its membership base skyrocketed by 274%, fueled by demand through the pandemic.
The corporate offers major care in all 50 states, connecting customers in real-time to its medical doctors alongside an AI-powered chatbot, texts, and digital photos. Its prospects embody big companies akin to Boeing, in addition to many well being plans and well being methods. It additionally goes direct-to-consumer.
The startup is led by Jeff Greenstein, who grew to become the corporate’s everlasting CEO after taking on interim management duties following the departure of former CEO and co-founder Robbie Cape in August.
98point6 ranks twenty eighth on the Startup 200, our record of the highest tech startups within the Pacific Northwest.
In October 2020, 98point6 raised greater than $118 million in a Sequence E spherical led by personal fairness big L Catterton and late-stage funding agency Activant Capital. Goldman Sachs, an current investor, additionally participated. The increase put the corporate at a $518 million post-money valuation on the time, in response to PitchBook.
98point6 has raised greater than $250 million to-date.