AlayaCare, a tech startup that focuses on home healthcare, has let go of 60 employees, or 14% of its workforce, BetaKit reported Aug. 16.
The company provides artificial intelligence-enabled software to home and community-based health care providers that allows them to schedule, document and bill for care. The firm also offers patient portals.
"We did four acquisitions over the last couple of years," AlayaCare co-founder CEO Adrian Schauer told BetaKit. "We, like all other tech companies, came through the frothy, growth-at-all-costs stage, and this was, I would say, a natural attrition to right-size the team for what we’re trying to achieve, which remains 40 percent year-over-year growth."
In 2021, the company closed on $185 million in series D funding led by former Vice President Al Gore's Generation Investment Management. While the company is based in Montreal, most of its revenue is generated in the U.S., BetaKit reported.