Branch Metrics Lays Off 20 Percent Of Employees

Mobile marketing tech startup Branch laid off 20 percent of its team this week, the company confirmed to Crunchbase News.

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The 20 percent cut makes up fewer than 100 people, according to company co-founder Mada Seghete, who responded to Crunchbase News’ inquiries via email. Branch declined to comment further.

Branch lets companies link across platforms so that user experience and metric measurements are consistent across channels and devices. The startup, which was founded in 2014, had more than 450 employees, according to LinkedIn data.

Branch, which is based in Redwood City, California, received more than $367 million in funding, according to Crunchbase data. It last raised $125 million in its Series E round in September 2019. New Enterprise Associates, Founders Fund and TriplePoint Capital are among the company’s investors.

Customers include BuzzFeed, Pinterest and Instacart, according to Branch’s website. Branch reached unicorn status with a valuation of $1 billion after its $129 million Series D in September 2018.

Branch is among a growing list of well-capitalized startups that have laid off staff recently. Luggage company Away and restaurant tech startup Toast, among others, also let go of employees this week. Unemployment claims across the United States for the week ending April 4 came out to 6.6 million, according to the Department of Labor.

Illustration Credit: Li-Anne Dias