The start-up Pecan also joins the series of layoff announcements: 30 employees will go home

After the Christmas and New Year holidays ended, the layoffs in Israeli and global hi-tech resumed at a high rate. The start-up Pecan also joins the series of layoff announcements of the last two days, which is laying off about 30 employees out of 130. About 20 of those laid off work in Israel.
Pekan was founded in 2018 by Zohar Bronfman (CEO) and Noam Barzis (VP of Technologies), both of whom have a PhD in Computational Cognition from Tel Aviv University, who together abandoned academia in favor of entrepreneurship. Since its inception, Pecan has raised $117 million from investors such as GGV Capital, Dell and Capital-S.
Pecan's software, which belongs to a category called Auto ML, simplifies the use of machine learning through a library of pre-made models that it offers. These models allow analysts in business teams in organizations, without programming knowledge, to use machine learning and artificial intelligence to improve business results in the company. This solution is designed to address the market shortage of data scientists.
Among other things, Pecan's models make it possible to predict customer behavior. For example, the software knows how to identify which customer is about to leave and is in a place where you should try to initiate a preventive interaction with him, or alternatively suggests which customer should be offered a sale because there is a chance that he will buy the product. All Pecan's user has to do is select the question that interests him from the model library and follow the system's instructions. Among its clients are the pharmaceutical corporation Johnson & Johnson, the Canadian insurance company CAA and the Israeli Phoenix.
Mafkan stated: "After examining the company's plans for the future, we made a difficult decision to say goodbye to approximately 30 employees. Although the company serves dozens of clients from among the largest organizations in the world and experiences consistent growth of hundreds of percent every year, we are attentive to the changing market conditions and are committed to a responsible approach that will ensure the The continuation of business growth in accordance with the goals we have set. About a year ago Pekan raised 66 million dollars, which brought the capital raising to a total of 117 million dollars, and we intend to maintain a long course that is compatible with the changing climate."