Exclusive: Igneous lays off staff, blames economy

Igneous, the Seattle-based data management startup, has laid off an unspecified number of staff, citing a “difficult economic environment”.

A company spokesperson confirmed the layoffs, adding: “We continue to serve our customers and work with our partners to deliver value.”

According to LinkedIn, Igneous employs 51-200 people. Pitchbook estimates 75 staff are on the books.

Igneous has developed a UDMaaS (Unstructured Data Management-as-a-Service) that provides a petabyte-scale unstructured data backup, archive and storage system with a public cloud backend. At the end of 2019, the company said it had 40-60 customers.

The company was founded in 2013 to develop software to manage massive file populations (read our profile). It has raised $66.7m in venture funding, including $25m in the most recent round in March 2019.

Founding CEO Kiran Bhageshpur resigned in December last year, while retaining a seat on the board. Dean Darwin, the incoming CEO and President, joined the Igneous board in June 2019. His career includes senior roles at Palo Alto Networks and F5 Networks.