Innovaccer cuts about 340 jobs to become AI native
Innovaccer, a health-tech startup valued at $3.45 billion, announced layoffs affecting about 340 team members in India and the US as it moves toward becoming an AI-focused company.
It's the third round of layoffs in four years.
CEO Abhinav Shashank shared the news in an email called "Moving Forward as an AI Native Company," saying this big change is all about their new direction.
Abhinav Shashank praises staff, promises severance
Shashank called it a "difficult day" and made sure to appreciate everyone who helped build Innovaccer: those who shipped products, closed deals, and supported customers through tough times.
He said affected employees will get severance packages and help with their next steps.
Innovaccer has raised $675 million to date
Innovaccer has raised $675 million so far.
Shashank emphasized that these layoffs are part of the company's push to focus on AI.