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Outschool, Which Raised A Series B, C And D In 12 Months, Lays Off 18% Of Workforce

Jul 05, 2022•about 3 years ago

Round Type

series b

Financial ServicesOtherSoftware

Description

Outschool, a marketplace for kid-friendly, virtual after-school programs, has laid off 31 people or 18% of its workforce, CEO Amir Nathoo confirmed to TechCrunch over text message. The layoff, conducted earlier this month, comes after a period of rapid fundraising for Outschool. The firm raised its Series B, C and D in a 12-month period, most recently growing its valuation to $3 billion after hitting a $1 billion valuation just four months earlier.

Company Information

Company

Outschool

About

The firm raised its Series B, C and D in a 12-month period, most recently growing its valuation to $3 billion after hitting a $1 billion valuation just four months earlier. In October 2021, the company announced it had attracted over $100 million in bookings on its platform. The company asserts that it has over three years of runway, with no need to raise anytime soon. In the next five years, the company hopes that more than half of the enrollments on the platform are coming from employers and schools.