Just months after raising $155 million in a Series B funding round, San Francisco-based AtoB has laid off 30% of its employees.
“Today, we had to make the difficult decision to let a group of AtoB employees go in response to external economic headwinds and a broader restructuring we’ve undertaken to ensure the company delivers for our customers,” AtoB spokeswoman Elizabeth Ashford told SFGATE in a statement Tuesday. “The team members we said goodbye to today all made incredible contributions to the company, and their hard work has been instrumental to AtoB’s growth.”
Before the layoffs, AtoB had a reported 107 employees.
AtoB was founded in 2020 by Vignan Velivela, Harshita Arora and Tushar Misra. The company’s payments platform provides a suite of tools for the trucking industry, including no-fee fleet cards, instant direct-deposit payroll and access to bank accounts and savings tools.
In August, AtoB raised $155 million in a Series B round led by Elad Gil and General Catalyst. The Series B round brought AtoB’s total debt and equity raise to $230 million.
Click for more FreightWaves articles by Noi Mahoney.
More articles by Noi Mahoney
Mexico mulls ending daylight saving time, potentially affecting cross-border trade
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now