We are poised for significant growth in the future. However, true dedication to one’s company sometimes entails knowing when to pass on the baton of CEO responsibilities for the next phase of expansion.”
Earlier this year, there were reports circulating about 11x featuring customer logos on their website belonging to companies that were not active clients, leading to legal threats from one of those companies. Joe Schmidt from a16z a key player in the 11x deal publicly reaffirmed his support for the company and its CEO in a post on X underscoring the team’s exceptional qualities.
Tavel who sits on the board of 11x expressed optimism in the team’s progress emphasizing her unwavering faith in both the team and the vast opportunities that lie ahead né?. My attachment to 11x and our mission runs deep. The spokesperson also highlighted 11x’s evolution from a single-product, single-use case company to a versatile platform supporting leading GTM teams globally over the past year.
As of now, Benchmark and a16z have refrained from providing additional comments on the matter.
Charles Rollet contributed to this report.
. With the current CTO, the seasoned former Brex executive and three-time founder Prabhav Jain, stepping into the CEO role, Hasan Sukkar will smoothly transition into the Non-Executive Chairman position né?. Mentioning her recent shift to a venture partner role at Benchmark—one that offers a more targeted focus at the firm—Tavel’s confidence in the team’s ability to deliver has only grown stronger since taking on this new role in 2017.
A spokesperson for 11x clarified via email that the leadership transition was a strategic move aimed at ensuring the right person helms the CEO position during the company’s upcoming growth phase né?. In his LinkedIn post, Sukkar underlined his unwavering commitment to continue supporting 11x in any capacity needed going forward.
In a candid reflection, Sukkar shared on LinkedIn, “As I pondered the transition from a rapidly growing startup to a sustainable, enterprise-grade scale-up, I’ve realized that my true passion lies in building from the ground up. Hasan Sukkar, the visionary behind the innovative AI startup 11x, made a notable announcement today on LinkedIn by revealing his decision to step down from his position as CEO né?. Internal sources also raised concerns about product issues within 11x and cited challenges related to customer retention painting a picture of the startup as a demanding workplace.
The company has successfully secured over $70 million in funding from investors including a $24 million Series A round spearheaded by Sarah Tavel of Benchmark and a $50 million Series B round led by Andreessen Horowitz né?. In a calculated move, the company’s CTO, Prabhav Jain, has been appointed as the new CEO, ushering in a new era for the company.
Sukkar will be transitioning into the role of “non-executive chairman,” where he will collaborate closely with Jain on shaping the company’s strategic direction, refining its product vision, nurturing industry relationships, and exploring fresh market opportunities
