Teachmint Lays Off About 5% Of Its Workforce
Teachmint a Software-as-a-service platform that helps classrooms to become digitise lays off 45 of its workforce which is around 5 per cent of its total workforce
Teachmint lays off 45 employees which are about 5 per cent of its workforce across all the departments to restructure. This aims to build long-term efficiencies amid a funding winter, people aware of the matter told Moneycontrol.
Teachmint also did offer a severance package to the laid-off employees which included health coverage to the laid-off employees. It would also the vesting of ESOPs (employee stock ownership plans) for the affected employees and the laid-off employees can also apply for different roles within the organization.
Teachmint was founded by Mihir Gupta, Payoj Jain, Divyansh Barodia, and Anshuman Kumar in 2020. It is a tech-based platform that helps classrooms to digitise themselves.
It has also raised $118 million to date, from global venture capital firms including Rocketship.VC, Vulcan, and Better Capital among others besides Lightspeed Venture Partners.
