FinanceUS

Tipalti Layoffs

January 2023

Tipalti announced a layoff affecting 123 employees (11% of its workforce) in January 2023. The company operates in the Finance sector.

People Affected

123

Percentage

11%

Announced Date

Jan 11, 2023

About

Israeli fintech unicorn Tipalti laid off 123 employees in January 2023, representing 11% of its then 1,086-person workforce. The company, which provides accounts payable automation software, cited a need to adjust its operational scale following a period of rapid expansion. This restructuring occurred over a year after Tipalti's significant $270 million funding round in late 2021, which had quadrupled its valuation to $8.3 billion. The layoffs affected 37 of its 410 employees based in Israel.