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Home»Startup»Trucking startup Convoy lays off employees for third time in past year, will close Atlanta office – Startup
Startup

Trucking startup Convoy lays off employees for third time in past year, will close Atlanta office – Startup

February 17, 2023No Comments3 Mins Read
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Trucking startup Convoy lays off employees for third time in past year, will close Atlanta office – GeekWire
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Seattle startup Convoy carried out its third spherical of layoffs over the previous 12 months and mentioned it could shut its Atlanta workplace.

The workforce cuts and actual property footprint discount are tied to a change within the firm’s customer support mannequin, in addition to “working a extra environment friendly enterprise general and rushing our path to profitability,” CEO Dan Lewis wrote on LinkedIn Thursday.

Convoy, which operates a digital trucking market, beforehand introduced layoffs in October and June of final 12 months.

The corporate declined to offer particulars in regards to the variety of individuals laid off or an up to date headcount when contacted by Startup Thursday.

Convoy has simply over 1,000 workers, in keeping with LinkedIn. The corporate mentioned it employed 1,300 individuals in April 2022, when it raised a $260 million funding spherical at a $3.8 billion valuation.

In his publish, Lewis mentioned the corporate is automating components of its customer support mannequin and transferring away from a “extra generalized strategy.”

“This shift represents an enormous step ahead in how we function, however it comes at a value. Elevated automation and tighter focus have modified our staffing wants,” Lewis wrote.

Convoy opened its Atlanta workplace in 2019.

Convoy is considered one of many tech firms trimming headcount and different experiences amid the broader tech trade downturn and ongoing financial uncertainty.

Based in 2015 and backed by the likes of Invoice Gates and Jeff Bezos, Convoy’s software program automates transactions between trucking firms and shippers. Its community has greater than 400,000 vehicles and a roster of shippers together with House Depot, Procter & Gamble, Unilever, and Anheuser-Busch.

See also  Madrona Venture Group opens Silicon Valley office as it looks beyond Seattle for new investments – Startup

The corporate, ranked No. 5 on the Startup 200 listing of high Pacific Northwest startups, mentioned final 12 months it anticipated to surpass $1 billion in annual income.

Convoy competes with numerous comparable digital-focused delivery firms together with Uber Freight — which can be shedding employees — along with conventional brokers investing in their very own know-how. They’re battling for a share of a $800 billion U.S. trucking trade.

Lewis and Grant Goodale each labored at Amazon earlier than launching Convoy. Goodale transitioned from the CTO position to chief expertise officer in 2021.

Convoy employed former Expedia CEO Mark Okerstrom as president and COO in 2020.

Different Convoy buyers embody Baillie Gifford; accounts suggested by T. Rowe Value Associates, Inc.; Expedia Chairman Barry Diller; Salesforce CEO Marc Benioff; Code.org founders Hadi and Ali Partovi; former Starbucks president Howard Behar; U2’s Bono and The Edge; amongst others.



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