Sales software startup Highspot is laying off employees for the second time this year

 

Sales software startup Highspot is laying off employees for the second time this year, reducing its workforce strength by 15%, affecting 140 employees.  Earlier this February, the Seattle-based startup laid off 10% of its workforce. CEO Robert Wahbe said, "Today's changes position us to invest in growth areas such as product and engineering, including generative AI — and build a profitable company that delights our customers worldwide." Wahbe added that the firm is well capitalized, last raising a $250M funding at a $3.5B valuation in 2022.  To date, the firm has secured $650M from investors, including B Capital Group, ICONIQ Growth, Madrona Venture Group, Salesforce Ventures, and Tiger Global Management.  With the changes, Wahbe expects the company to be cash positive by next year, buoyed by the fact that "sales enablement budgets are predicted to increase by at least 50% in the next two years," per Wahbe.