Bootstrapped SaaS startup Kissflow culls 11% workforce

Chennai-based workflow automation software provider Kissflow has undergone a restructuring, resulting in the layoff of approximately 45 employees across India, the US, and the UAE in April and May. The bootstrapped startup, founded in 2012, previously employed around 400 staff. \r

Founder and CEO Suresh Sambandam stated that the layoffs were due to a shift in procurement strategy and performance reviews. Severance was provided to all affected employees, with 90% already securing new positions. The software-as-a-service sector has faced challenges post-Covid, with slowed growth and multiple layoffs reported. \r

Projections for Indian SaaS startups' enterprise value and revenue have also been revised downward.