Despite a string of large client wins, Web video platform provider Brightcove has cut 15% of its workforce, or 25 out of an existing base of 172 employees.
The changes are spread
across the organization and not confined to any particular area, the Cambridge, Mass.-based company said in a statement.
"As we move into 2009, we have reconfigured the Brightcove team around our
key strategic priorities, and this has involved some staffing adjustments," the statement reads.
Founded in 2004, the privately held Brightcove has raised an estimated $91 million in funding from
the likes of Accel Partners, AOL, AllianceBernstein, Brookside Capital, General Catalyst Partners, Hearst, InterActiveCorp., The New York Times Co., and Maverick Capital.--Gavin O'Malley