EMEA boss out at Virtual Instruments as jobs slashed

Nick Venables joined from HP earlier in the year, but has now left

The EMEA boss of analytics vendor Virtual Instruments has left the firm as it slashes jobs amid a restructure, CRN can confirm.

The analytics and infrastructure performance management company was founded in 2008 and is based in San Jose. The firm is led by former Microsoft chairman John Thompson and, according to Crunchbase, has received more than $76m in funding in six rounds so far.

An industry source claimed that the firm attempted to secure another funding round recently, but was not successful, leading to significant layoffs.

Nick Venables, who joined from HP in May as Virtual Instruments' EMEA president, is among the staff who have left, the company confirmed.

In a statement sent to CRN, the vendor said it was restructuring the business for future growth.

"As with many companies pursuing aggressive growth year over year, it's sometimes necessary to invest ahead of growth," the company said. "This was true in our case, and it became clear we needed to streamline and align our cost-to-revenue model to define the appropriate foundation for supporting customers and partners, and sustaining growth.

"We retain a strong core team across engineering, professional services, sales and marketing to continue servicing our existing customers, acquiring new ones, and expanding market growth in North America and EMEA."

The company said its channel will continue to be pivotal to it in light of the changes.

"We are still seeing customer acquisition and market demand build quarterly for our IPM solutions," it said. "From a channel standpoint, our go-to-market partners today are the ones we'll continue with, and we will expand strategically as needed. If anything, our partner ecosystem will become even more important and strategic."