BitTitan layoffs will impact roughly 70 employees at the MSP-friendly software company in January 2022, according to a WARN filing in the state of Washington. The BitTitan layoff news surfaces roughly one month after Idera acquired the business.
BitTitan develops MigrationWiz, a SaaS platform that allows MSPs to migrate customers to various cloud applications. The company's roots extend back to 2007 or so. By 2016, BitTitan had raised $15 million in Series A funding. As of October 2021, partners and customers have leveraged BitTitan to migrate 25 million users to the cloud, Idera indicated at the time.
BitTitan: M&A Buyer Becomes Seller
Ironically, BitTitan itself was in acquisition mode earlier this year. Indeed, the company acquired ServiceNow partner Perspectium in April 2021. At the time of that deal, Perspectium had roughly 75 employees across North America and Europe, and served roughly 20 percent of Fortune 500 companies in the United States. Perspectium had raised an $8 million Series B funding round with a second investment from TVC Capital in April 2019.
Fast forward to November 2021: The planned BitTitan job cuts, expected in January 2022, were first reported by GeekWire. We've reach out to Idera for additional details.