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Just two months after the company cut its staff levels by more than 50 percent, data-warehousing appliance company Dataupia Inc. is seeking to sell its assets, according to an online report.
Crediting former vice president of marketing Samantha Stone, the website of magazine PC World says that the Cambridge-based company has cut even more jobs to curtail costs as it seeks a buyer for its intellectual property.
In early June, Dataupia reduced staff levels from about 60 workers to 23. The burn rate had to be reduced to attract new investors, increase the possibility of a good merger and acquisition and extend the company’s runway, officials said at the time.
Those layoffs came less than three months after founding CEO Foster Hinshaw — a 2008 Mass High Tech All-Star winner — stepped down from that role, to be replaced by former Cognos Inc. senior vice president of world operations Tony Sirianni. Hinshaw retained a board seat and a full-time role with the company.
Founded in 2006, Dataupia has pulled in a total of $41 million from its investors. Series A backers included Waltham-based Polaris Venture Partners and Virginia-based Valhalla Partners. Fairhaven Capital joined in the company’s $16 million Series B round in November 2007.
Mass High Tech reported Dataupia’s latest round of funding in October — a $10 million Series B-1 round closed earlier in the year, according to a regulatory filing.
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