Sensor Tower, a distinguished market intelligence agency for the app financial system, this week laid off a notable portion of its workforce, estimated at round 40 individuals out of the 270+ on the firm, in accordance with LinkedIn’s headcount. The layoffs included C-suite executives, TechCrunch has realized from a number of sources, together with the CMO, CFO and chief product officer. Different groups impacted embrace finance and practically all of selling, we’re listening to.
The corporate held an all-hands assembly to deal with the adjustments, which can nonetheless be underway as half of a bigger reorg of Sensor Tower’s company construction.
Sensor Tower confirmed the layoffs, however not the particulars, noting it could subject a fuller launch subsequent week.
“Earlier this week, Sensor Tower’s administration workforce took vital steps to reorganize and right-size our enterprise beneath a proficient and skilled senior management workforce,” mentioned Melissa Sheer, a publicist for Sensor Tower, in an emailed assertion offered to TechCrunch. “We’re enthusiastic about these adjustments as we place the corporate for a stability of continued development and best-in-class profitability. We are going to present extra particulars within the coming days,” she mentioned.
A preferred supplier of third-party information and insights for app builders, manufacturers, entrepreneurs and publishers, Sensor Tower has grown its headcount over time following its $45 million funding in 2020 from Riverwood Capital. The agency on the time cited 350 enterprise-level clients, comparable to Morgan Stanley, Zynga and Tencent. However Sensor Tower was nonetheless a small workforce then — simply 75 workers — solely a bit bigger than the variety of workers laid off this week.
Sensor Tower grew once more in 2021 with its acquisition of market intelligence firm Pathmatics, which allowed it to supply an expanded set of digital and cell promoting insights. The deal included an undisclosed development funding from Riverwood Capital into Pathmatics.
The corporate had then claimed it selected to lift extra funds to additional develop its enterprise with investments in hiring, advertising and marketing and infrastructure, however famous it had been worthwhile since its launch.
At this time, Sensor Tower’s web site touts its use by prime manufacturers, corporations and entrepreneurs, like Dyson, L’Oréal, Goal, Johnson & Johnson, Welch’s, Petco, Chanel, Revolut, Getir, Warner Bros., Hershey, Wieden + Kennedy, ByteDance, Activision Blizzard, Allstate, Apple, Purina, Pepsico, Nike and extra.
Its information is frequently cited by prime publications, together with The Wall Avenue Journal, Fortune, CNBC, The New York Occasions, Bloomberg and others, together with TechCrunch.
Sadly, 2023 has been a troublesome yr for layoffs, which have ranged from huge names in tech like Google, Amazon, Microsoft, Yahoo, Meta, Zoom, Roku, Spotify and Shopify, to smaller startups throughout all sectors, together with crypto, SaaS, enterprise, client and extra.
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