The number one thing that Clyde can do for our Merchants and our Consumers is focus. Ultimately, as a business, we have a limited number of things that we can accomplish at any given time. Our effectiveness at positively impacting our clients is dependent on how many things we can get done, well, and the focus and attention that we give all of our clients.
Clyde was founded in 2017 as the first tech-based warranty provider, pioneering a new wave for the 99% of retail to launch highly successful warranty programs. Since day one, Clyde has been dedicated to being a technology company at heart and has consistently innovated in the industry, launching one-of-a-kind products and integrations. At our core we are an enduring and innovating business that cares deeply about retail and our customers.
Being a resilient business means facing challenges head on and doing so as thoughtfully as possible. As a part of our commitment to focus and being a responsible partner to our clients, we made the tough decision to restructure our team. Now is not the time to brag about headcount or funding. Instead, it's a time to double down on innovation and establish a strong foundation for the business. Our cost restructuring reflects this mindset and sets us on the path to being a self-sustaining and innovation-first company.
For our merchant partners, this realignment of our costs will result in two things:
Focus. We’ve re-aligned our priorities to make sure that we can, hands down, be the most effective warranty partner for the best merchants.
Implementations: Now, all our merchants will work directly with their Account Managers from point of signature to long term success of our partnership. We are reducing the number of handoffs that happen when you work with us to make sure your technical and business resources have a single point of contact at Clyde. By doing this, our clients will more quickly access the deep number of capabilities our platform offers.
Merchant Success: We are significantly increasing the number of total years our Account Management team has in the warranty space to bring this expertise directly to our merchants. You can rest assured that you will be working closely with industry experts to maintain and grow upon the success we’ve seen together.
Product and Engineering: Our product and engineering team was essentially unaffected in this restructuring. At our core, we are a technology company, and now product and engineering make up more than 50% of our team. This focus will accelerate the innovation we are bringing to our clients and this space. In the next few weeks alone we will be launching integrations with a number of new services, as well as rolling out updates to our CTAs that will positively affect the majority of our client base.
Path to profitability. In a world where capital is expensive, having a clear path to profitability and an operating model where you’re significantly more likely to overachieve on goals, rather than miss them, is prudent. Clyde’s cost realignment is a reflection of this. To all of our merchant partners – you can be more confident than ever in our service as our path to being a self-sustaining business is secured. As painful as the process is to lose team members, we did so to entirely reduce business risk to our client base while driving our focus toward those partners that our platform so deeply affects.
Clyde’s culture is one of empathy, commitment, and determination. For those employees that were impacted by this organizational refocus, we are committed to ensuring their successful transition while doing everything we can to support them. For our customers, the Clyde team is invigorated by the opportunity to bring to focus what will continue to be a successful partnership, now and into the future.
Brandon Gell, CEO & Founder
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