Hasan Sukkar, the founder of Ai Startup 11x, is resigned from his role as CEO, announced Sukkar on LinkedIn this morning. Prabhav Jain, 11x CTO, has been appointed new CEO of the company.
Sukkar will move to a position of “non -executive president”, where he will work with Jain on “strategic direction, product viewing, sector relations and openings of new market opportunities”, wrote Sukkar on LinkedIn, helping 11x in any case that he can “in the future”.
“I spent a lot of time thinking about what you need to move from a rapidly growing startup to an increase in the company degree, and I realized that I love to build from scratch. It is in my bones,” Sukkar wrote on LinkedIn. “I love 11x and I think deeply in our mission. We have a massive opportunity in front. But sometimes, loving your company means knowing when to pass the witness of the CEO for the next stage of the race.”
As previously reported Techcrunch in March, 11x at that time had shown customer logos on his website of companies that were not active customers and one of those companies was threatening to sue the issue. Other sources also told Techcrunch that the 11x product had problems and that the company had struggled with customer loyalty. Some employees also described the start as an exhausting job.
11x has collected over 70 million dollars from investors, including a $ 24 million Serie A led by Sarah Tavel, a long -term investor with benchmark and a $ 50 million Serie B led by Andreesesen Horowitz.
Joe Schmidt, part of the A16Z partner of the 11x agreement, publicly doubled his support for the company and his CEO, publishing on X in March that the company loved “Hasan and the entire 11x team” and that the “team, product and metrics are world class”.
Tavel also posted on X saying: “As a member of the Council, I saw the progress up close and our belief in the team and the opportunity is stronger than ever”. Last week, Tavel, who joined Benchmark as a general partner in 2017, also announced that he would take on the position of venture partner, a more limited role in the historical company.
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An 11x spokesman sent a long and -mail explaining that the change had the purpose of putting the right person in the role of the CEO for a new phase of growth of the company.
“The current CTO, FMR. Brex Exec and 3 times founder Prabhav Jain are entering the role of the CEO, with Hasan Sukkar passes to a new role of non -executive president, “wrote the 11x spokesman.” The move reflects the growth of 11x: in the last year, the company has evolved from a single product, a single random company to a platform that feeds hundreds of GTM leader of the world. “
Benchmark and A16z did not immediately respond to an additional commentary request.
Charles Rollet has contributed to relationships.
