Restructuring at Vouch

I contacted Vouch Insurance for a response after learning today that there were layoffs there:

“This week, Vouch made a few organizational changes to better serve the needs of our expanding client base and ensure that we’re building a durable business with strong underwriting results. As a part of these changes, we removed a small number of roles (<8% of our team) which no longer made sense in the context of our new team structure. We’ve had a very strong year so far, and expect Vouch to continue to grow at a healthy pace; we also remain in a very strong capital position, with a majority of the capital we’ve raised still on-hand.

It’s never easy to say goodbye to good people. We’re thankful for the hard work and contributions of our departing teammates and wish them the very best.”

– Vouch CEO and Co-Founder Sam Hodges.

As a refresher, Vouch is a San Francisco-based business insurance platform for startups that has raised a total of $160 million since its inception in 2018. It offers a range of commercial insurance products backed by SiriusPoint, which is also an investor in the company.