Remine lays off 42 sales employees - Technical.ly DC

Business

Mar. 22, 2019 7:46 pm

Remine lays off 42 sales employees

“We did a restructuring of the sales team to be more focused on enterprise sales,” president and cofounder Leo Pareja told Technical.ly.

Remie founders with a few of the company's customers.

(Photo via @realremine on Twitter)

On Friday, March 22, real estate property intelligence company Remine laid off 42 employees working in sales.

Leo Pareja, who founded the Fairfax, Va.-based company in 2016 with Mark Schacknies and Jonathan Spinetto, confirmed the layoffs to Technical.ly.

“We did a restructuring of the sales team to be more focused on enterprise sales,” Pareja told Technical.ly via a LinkedIn message.

In a LinkedIn article published Friday, Pareja wrote that Remine made the decision to focus on providing tech to the multiple listing services (MLS) community.

“These positions were focused on the ‘up sell’ of our agent product, and that is no longer reflective of our company’s overall strategy to serve as a partner of the MLS,” Pareja said in the article. “Even though they no longer have a home at Remine, the people who worked in these sales roles did everything right.”

The layoffs come after the Fairfax, Va.–based company reported raising a $30 million Series A funding round led by New York-based growth equity firm Stripes Group last month. Technical.ly DC previously reported that Remine would use the Series A funding to expand its MLS efforts for real estate agents. According to Crunchbase, Remine has raised $48 million in funding to date from a seed and Series A funding round.

The real estate platform for agents analyzes property records, transactional history, and consumer data to deliver actionable insights for active real estate agents around the country, Technical.ly DC previously reported.

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In his post, Pareja said he was honored to work with each of the laid off employees, and that he’d be happy to connect them with other employment opportunities.

“I truly wish that no CEO must go through this, it is the worst feeling to know that your decisions affect other people’s lives and families,” he said in the post.

The layoffs weren’t the only major decisions announced today at Remine. The post also detailed a shift in leadership roles among the three cofounders:

  • Pareja transitioned from CEO to president to make sure the company is scaling as the founders plan.
  • Schacknies was promoted to CEO from CFO.
  • Spinetto remains the company’s COO.

Both Pareja and Schacknies updated their LinkedIn profiles with their new roles already, but there was no update promoting anyone for the CFO position.

“This strategic decision is business as usual as we wanted to reflect actual division of roles to accurately reflect our behavior and responsibilities,” Pareja said.

Pareja said in the article that since he is “the most forward facing” of the three cofounders, he will continue to be the external face of the company to Remine’s most important clients and industry stakeholders.

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