In a reorganization and move to cut costs, Spredfast recently notified the state of Wisconsin of its plans to close its Madison office and layoff 47 employees.
Austin-based Spredfast, a social media marketing firm, let go 21 employees last week and offered the others the opportunity to stay on until the office shuts down completely in August.
No one responded to a request for comment from Spredfast.
Last June Spredfast raised $50 million. To date, the company has raised $116 million. Spredfast also merged with Austin-based Mass Relevance in 2014 and in 2015 it acquired Shoutlet. The Madison office was part of Shoutlet. Spredfast has 500 employees, five global offices and it supports more than 650 customers.