• Komodo Health, a healthcare data and analytics startup, cut staff amid the coronavirus pandemic, Business Insider has learned.
  • The company has laid off 23 employees, or about 9% of its staff, according to a source familiar with the situation. 
  • “In light of these challenging and uncertain times, we have made the difficult decision to part with a small portion of our workforce to maintain the financial strength of our company,” a spokeswoman for Komodo told Business Insider.
  • Visit Business Insider’s homepage for more stories.

Komodo Health, a healthcare data and analytics company, has cut staff amid the coronavirus pandemic. 

The company laid off 23 employees, or about 9% of its staff, according to a source familiar with the situation. 

“In light of these challenging and uncertain times, we have made the difficult decision to part with a small portion of our workforce to maintain the financial strength of our company,” a spokeswoman for Komodo told Business Insider. “We remain focused on our mission to reduce the burden of disease, serving our clients every day.”

The layoffs come as companies grapple with their futures amid the pandemic.

As of April 16, more than 22 million Americans have filed for unemployment within the last month. Venture-backed startups have laid off thousands of employees. Healthcare companies — including those on the front lines of the coronavirus response — haven’t been exempt, nor have health-tech companies like Babylon Health, which furloughed 5% of its staff. 

Komodo Health, which is based in San Francisco-based, was founded in 2014 and works with pharmaceutical companies, health insurers, and healthcare providers, mapping out how patients get care across the US with the hope of finding out where there might be disparities that can be fixed. 

Komodo in January raised $50 million in a round led by Andreessen Horowitz. In total, the company has raised $63.5 million from investors including Oak HC/FT, IA Ventures, and Felicis Ventures.

Sundeep Peechu, a general partner at Felicis Ventures and an early investor in the company, called it an anti-unicorn, referring to the startup’s discipline in raising and spending less than $20 million in its early years.

“In a decade where unicorn culture has come to mean chasing valuations, massive fundraises and a grow-at-all-costs mentality, they’re a remarkable counter narrative,” Peechu wrote in a January LinkedIn post. 

According to Pitchbook, the company has an estimated pre-money valuation of $950 million.

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