Less than four months after it finished raising a $13 million funding round, Halifax Software-as-a-Service company Proposify is laying off 25 people as part of what CEO Kyle Racki described as an attempt to “right-size” the company after missed growth targets.
The September raise took about a year to close and was led by Innovacorp and the Canadian Business Growth Fund -- an investment fund backed by major financial institutions, including Royal Bank of Canada and Toronto-Dominion Bank. In a statement posted on social media Wednesday, Racki said Proposify, whose software automates the