Citing uncertainty in macroeconomic factors within the tech industry and as fundraising became more challenging in the last few quarters, SaaS startup Chargebee laid off around 10 per cent of its total workforce.

However, Chargebee CEO Subramanian ensured that the impacted employees will get a three-month severance package along with extended health insurance, and an extension of time to exercise stock options granted under the startup’s stock incentive plan.

In April last year, the startup joined the unicorn club, after receiving a $125-million in funding round. So far, it has raised over $460 million in equity funding from prominent investors such as Sapphire Ventures, Tiger Global, Insight Venture Partners, and Steadview Capital.

Categories: Other News