Sensor Tower, a distinguished market intelligence agency for the app financial system, this week laid off a notable portion of its workforce, estimated at round 40 individuals out of the 270+ on the firm, in response to LinkedIn’s headcount. The layoffs included C-suite executives, TechCrunch has discovered from a number of sources, together with the CMO, CFO, and Chief Product Officer. Different groups impacted embody finance and almost all of selling, we’re listening to.
The corporate held an all-hands assembly to deal with the adjustments, which can nonetheless be underway as half of a bigger reorg of Sensor Tower’s company construction.
Sensor Tower confirmed the layoffs, however not the particulars, noting it might problem a fuller launch subsequent week.
“Earlier this week, Sensor Tower’s administration staff took vital steps to reorganize and right-size our enterprise underneath a proficient and skilled senior management staff,” stated Melissa Sheer, a publicist for Sensor Tower, in an emailed assertion supplied to TechCrunch. “We’re enthusiastic about these adjustments as we place the corporate for a steadiness of continued development and best-in-class profitability. We are going to present extra particulars within the coming days,” she stated.
A preferred supplier of third-party knowledge and insights for app builders, manufacturers, entrepreneurs, and publishers, Sensor Tower has grown its headcount over time following its $45 million funding in 2020 from Riverwood Capital. The agency on the time cited 350 enterprise-level clients, equivalent to Morgan Stanley, Zynga, and Tencent. However Sensor Tower was nonetheless a small staff then — simply 75 staff — solely a bit bigger than the variety of staff laid off this week.
Sensor Tower grew once more in 2021 with its acquisition of market intelligence firm Pathmatics, which allowed it to supply an expanded set of digital and cellular promoting insights. The deal included an undisclosed development funding from Riverwood Capital into Pathmatics.
The corporate had then claimed it selected to boost extra funds to additional develop its enterprise with investments in hiring, advertising, and infrastructure, however famous it had been worthwhile since its launch.
Right this moment, Sensor Tower’s web site as we speak touts its use by prime manufacturers, companies, and entrepreneurs, like Dyson, L’Oreal, Goal, Johnson & Johnson, Welch’s, Petco, Chanel, Revolut, Getir, Warner Bros., Hershey, Wieden + Kennedy, ByteDance, Activision Blizzard, Allstate, Apple, Purina, Pepsico, Nike, and extra.
Its knowledge is repeatedly cited by prime publications, together with The Wall Road Journal, Fortune, CNBC, The New York Instances, Bloomberg, and others, together with TechCrunch.
Sadly, 2023 has been a troublesome 12 months for layoffs which have ranged from huge names in tech like Google, Amazon, Microsoft, Yahoo, Meta, Zoom, Roku, Spotify, and Shopify, to smaller startups throughout all sectors, together with crypto, SaaS, enterprise, client, and extra.
Sarah Perez is accessible at sarahp@techcrunch.com or on Sign at (415) 234-3994.
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