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Argyle lays off 20 employees, just months after securing $55 million funding

by Babu Patil
Argyle lais off 20 employees, just months after securing $55 million funding

Argyle laid off 6.5% of the team or 20 employees just five months after the startup secured $55 million in Series B funding to expand its in-house engineering team and scale its go-to-market operations.

Argyle claims it processes more than 10 million employment records per month. The startup is developing a user-consent-based platform for employment data, helping 170+ million U.S. employees avoid situations where their personal information is sold or used without their consent or knowledge. The company has been backed by nearly $70 million in investment. Backers include SignalFire, Bain Capital Ventures, Bedrock, and Checkr.

Argyle helps companies and financial institutions get access to employment records. The company serves over 500,000 U.S. employers, including financial institutions, public banks, credit unions, and insurance providers.......