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The latest acquisition comes on the heels of the Mumbai-based startup firing about 15% of its workforce in October, immediately after a fresh fundraise of $50 million in October.
The biggest names in Indias startup galaxy, top entrepreneurs, policymakers and investors will congregate to celebrate the countrys brightest entrepreneurs in Bengaluru on October 7 at the ninth edition of The Economic Times Startup Awards. This and more in todays ETtech Morning Dispatch
In a statement to ET on the layoffs, Bizongo confirmed that it had parted ways with a "few of the employees, and it was a very difficult decision." The layoffs have impacted employees across the sales, marketing, business and strategy functions.
Just a day after raising a $50 Mn funding, B2B vendor management platform Bizongo has now fired nearly 50 employees.
The funding was raised at a valuation of $980 million, a premium of 63% over August 2022, when it last raised funding, co-founder and CEO Sachin Agrawal told ET.