Insurtech platform Policygenius has laid off 25 per cent of its employees within three months of raising Rs 12.5 crore. Jamison Buck, an insurance agent with Policy Genius, wrote on a LinkedIn post on Thursday that he too has been a victim of the layoff. According to the report, the company has laid off around 170 employees.
In a statement to TechCrunch, the company’s CEO and co-founder Jennifer Fitzgerald said that in the current economic scenario, like other companies, they have to change their strategy.
The company had raised capital of Rs 25 crore during the Serie E funding in March last. The company had said that it would use this capital for business expansion and new offerings.