Swipely makes layoffs

SWIPELY CHIEF EXECUTIVE Angus Davis confirmed layoffs at his company on Wednesday, but did not specify numbers. / COURTESY SWIPELY
SWIPELY CHIEF EXECUTIVE Angus Davis confirmed layoffs at his company on Wednesday, but did not specify numbers. / COURTESY SWIPELY

PROVIDENCE – Swipely has laid off an unspecified number of employees, according to CEO Angus Davis.
Davis said he would not comment on specific numbers related to the layoffs, which he described as “organizational changes.”
“We go to market in multiple ways, across several distinct sales channels. The changes we made are all about doubling down on the sales channels that are working really well for us and cutting back on those that are not. Over the last year, we’ve grown our recurring revenue by 300 percent, and this change is focused on sustaining and accelerating that rapid growth into the future,” Davis said in an email.

While Davis did not say how many people the private company employs, a company vice president told Providence Business News in December that Swipely expected to end the year with 150 employees. The company began 2013 with 27 employees.
The company provides retail-payment processing, marketing and analytics. It helps businesses understand its customers and grow sales by using a cloud-based platform that reveals information, such as which menu items bring customers back, who the best 100 customers are and more.
Swipely said in November that it was managing more than $4 billion in sales for its hospitality, retail and restaurant clients through its platform; it said that number had doubled since May.
Davis founded the company in 2009; it has raised more than $40.5 million in capital.

No posts to display