In March 2024, AI fraud detection software provider Inscribe laid off just under 40% of its staff, affecting dozens of employees. The San Francisco-based startup, which had around 60 employees, made the cuts in January as part of a strategic pivot. The company's board recommended the layoffs after missing revenue goals for over a year, citing market challenges and the need to adapt to AI advances in the financial services industry. The reduction primarily impacted go-to-market and operational roles as Inscribe shifts toward a new product strategy, with a major launch planned for later in the year. This follows a $25 million Series B funding round in early 2023, during which the company had anticipated growth.
