Cohesity has confirmed a round of job cuts, with chief marketing officer Lynn Lucas among those heading out of the door.
A spokesperson sent a statement to B&F:
“Cohesity has made the tough decision to optimize our workforce, with a twofold goal of having more flexibility to increase our investments in strategic areas of critical importance to our customers, and becoming cash flow positive in FY24. We will ensure that impacted employees receive resources and support from Cohesity, and where possible can be redeployed to open roles within the company. We will also continue to recruit globally in areas of strategic importance to Cohesity.”
The spokesperson also wrote “I can also confirm that Lynn Lucas is leaving the company. We thank her for her many contributions and wish her well.” Lucas became Cohesity CMO in 2018, joining from Veritas where she held the same role.
Cohesity did not confirm the number of staff involved in the job cuts. The privately owned business had 2,289 employees as of April 2023, according to Growjo.
Data protector and startup Cohesity was founded in 2013 by current CTO and chief product officer Mohit Aron, who was the original CEO. Sanjay Poonen became the CEO in August last year.
To date, it has raised a total of $660 million in funding, with the last round, an E-round, bringing in $250 million in April 2020. The business was then valued at $2.5 billion. Aron told Bloomberg an IPO was being considered in December 2021, at a $3.7 billion valuation. It actually filed for an IPO in December 2021 and has gone quiet on that front since.
