Large file delivery service YouSendIt is the latest tech company to downsize, laying off 14 employees (20 percent of its staff). Unlike other companies cutting jobs, however, it didn’t cite the poor economy as the primary rationale. Rather, it hopes to rechannel its resources into the enterprise side of the business, reports VentureWire.
The Campbell, Calif.-based company, launched its enterprise services in 2007 for businesses looking to electronically send large files in high volumes. It has two such packages, Corporate Suite and Business Plus, which offer storage space, file tracking, certified delivery and payment-by-invoice for a monthly fee starting at $29.99. Right now, YouSendIt says it has about 750 corporate clients that supply 15 percent of its revenue.
To grow this area of the business, the company will tap its largely unspent $14 million third round of funding received in July — a round led by Emergence Capital Partners. This round brought the total of venture capital raised to $34 million.