Just months after raising $155 million in a Series B funding round, San Francisco-based AtoB has laid off 30% of its employees.
“Today, we had to make the difficult decision to let a group of AtoB employees go in response to external economic headwinds and a broader restructuring we’ve undertaken to ensure the company delivers for our customers,” AtoB spokeswoman Elizabeth Ashford told SFGATE in a statement Tuesday. “The team members we said goodbye to today all made incredible contributions to the company, and their hard work has been instrumental to AtoB’s growth.”
Before the layoffs, AtoB had a reported 107 employees.
AtoB was founded in 2020 by Vignan Velivela, Harshita Arora and Tushar Misra. The company’s payments platform provides a suite of tools for the trucking industry, including no-fee fleet cards, instant direct-deposit payroll and access to bank accounts and savings tools.
In August, AtoB raised $155 million in a Series B round led by Elad Gil and General Catalyst. The Series B round brought AtoB’s total debt and equity raise to $230 million.
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