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Software maker cuts staff despite funding

Personify, which develops software to personalize Web sites, says it laid off an undisclosed number of staff last week in a cost-cutting measure and raised $20 million in funding. The San Francisco-based company dismissed between 50 and 60 people of a staff of 130 members, according to a former employee. The round of funding, which will be used to promote the company's new product, was led by ABS Ventures and included Alloy Ventures, U.S. Venture Partners, and Cap Gemini Ernst & Young, among others. The new product, Personify CI, lets companies create customer profiles based on their shopping behaviors online and off while maintaining their privacy, according to a company statement. Its customers include Continental Airlines, Neiman Marcus Online, and Williams-Sonoma.

Personify, which develops software to personalize Web sites, says it laid off an undisclosed number of staff last week in a cost-cutting measure and raised $20 million in funding. The San Francisco-based company dismissed between 50 and 60 people of a staff of 130 members, according to a former employee.

The round of funding, which will be used to promote the company's new product, was led by ABS Ventures and included Alloy Ventures, U.S. Venture Partners, and Cap Gemini Ernst & Young, among others. The new product, Personify CI, lets companies create customer profiles based on their shopping behaviors online and off while maintaining their privacy, according to a company statement. Its customers include Continental Airlines, Neiman Marcus Online, and Williams-Sonoma.