Pristyn Care, a healthcare unicorn, has also reportedly laid off approximately 350 employees across various departments, including tech, product, and sales teams.
However, according to a statement from Pristyn Care given to the startup news website Inc42, only around 45 employees were fired based on their performance.
The company explained that they have a comprehensive performance evaluation process that allows them to assess the efficiency levels of all employees. During a regular review, they identified around 45 employees who were not meeting expectations and had to let them go.
Pristyn Care, based in Gurugram, India, has achieved unicorn status in just three years after doubling its valuation to $1.4 billion in its Series E funding round held in December 2021.
The company raised $96 million in the round, which was led by Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures, and Trifecta Capital.
Pristyn Care was founded in 2018 and provides advanced secondary care surgeries through its network of more than 800 hospitals, over 200 clinics, and more than 400 in-house super-specialty surgeons.
The company has raised over $177 million to date and made an undisclosed investment in acquiring New Delhi-based healthcare startup Lybrate last year.
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