Mozark is a developer of a digital experience management platform that helps enterprise customers to measure real-user experience by monitoring real devices connected to real networks
The funds will be used to fuel SimpliContract's growth and expansion in the US and European markets, focusing on sales and marketing efforts, as the platform aims to streamline contract processes and enable real-time collaboration for enterprise customers
Phablecare's financial troubles are said to be the result of high cash burn after its last funding round, which raised $25 million in March 2022 from investors such as Kalaari Capital, Aflac Ventures, SOSV, Omron Ventures and others
The start-up has offered two months of salary as a severance package to the laid-off employees and will extend their insurance coverage for the next six months
