San Francisco, Sep 9 (IANS) Market intelligence firm Sensor Tower has laid off nearly 40 people, including top-level executives, out of its more than 270-strong workforce, the media reported.

The job cuts impacted C-suite executives, including the chief marketing officer (CMO), chief financial officer (CFO) and chief product officer, reports TechCrunch.

“Other teams impacted include finance and nearly all of marketing,” the report said.

Sensor Tower confirmed the layoffs but did not divulge further details line number of employees impacted.

“Sensor Tower’s management team took necessary steps to reorganise and right-size our business under a talented and experienced senior leadership team,” a company spokesperson was quoted as saying.

“We are excited about these changes as we position the company for a balance of continued growth and best-in-class profitability. We will provide more details in the coming days,” the spokesperson added.

Sensor Tower hired more people headcount over the years following a $45 million investment from Riverwood Capital in 2020. 

“The company had then claimed it chose to raise more funds to further grow its business with investments in hiring, marketing and infrastructure,” the report mentioned.

Sensor Tower is uses by some of the top top brands, firms and marketers and its data is regularly cited by top publications.

The company “cultivates rich market insights into the trends shaping businesses in the global digital economy”. 

“Our data scientists and algorithms process trillions of aggregated data points that people contribute to us from millions of devices, making up our one-of-a-kind data estate,” it says on its website.