Augury Layoffs
August 2023
Augury announced a layoff affecting 70 employees (18% of its workforce) in August 2023. The company operates in the Manufacturing sector.
70
18%
Aug 2, 2023
About
Israeli unicorn Augury, a provider of AI-driven mechanical diagnostics platforms, has laid off 70 employees, representing 18% of its workforce of 390. This marks the company's second round of layoffs in 2023, following a smaller reduction earlier in the year. The cuts are split equally between its Israeli and international teams. Founded over a decade ago, Augury experienced rapid growth, expanding from about 80 to 400 employees and increasing revenue tenfold in three years, bolstered by a $180 million funding round in late 2021 and the acquisition of Seebo in 2022. However, citing a need to streamline operations and pursue profitability amid challenging market conditions, the company made this difficult restructuring decision in August 2023 to ensure long-term success.
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