11x CEO Hasan Sukkar steps down

Hasan Sukar, the founder of AI Startup 11x, destroys his role as CEO, Sukkar announced on LinkedIn This morning. Pabhav Jain, CTO of 11x, has been appointed as the new CEO of the company.

Sukkar will go in a “non-executive chairman” position, where he will work with Jain on “strategic direction, product vision, industrial relationships and opening new market opportunities,” Sukkar wrote on LinkedIn and helps 11x in any way he can “in the future”.

“I spent a lot of time thinking about what is needed from a fast -growing startup to a sustainable scale for companies, and I realized that I love building from the ground. It’s in my bones,” Sukkar wrote on LinkedIn. “I love 11 times and believe deep in our mission. We have a huge opportunity for the bow. But sometimes loving your company means knowing when you have to pass the CEO bat for the next stage of the race.”

As WAN reported earlier in March, 11x at the time had shown customer logos on its website of companies that were not active customers, and one of those companies threatened to sue the issue. Other sources also told WAN that the 11x -product had problems and the company had struggled with customer retention. Some employees also described the startup as a debilitating place to work.

11x has raised more than $ 70 million from investors, including a Serie A of $ 24 million under the leadership of Sarah Tavel, an old investor with benchmark and a series B of $ 50 million led by Andreessen Horowitz.

Joe Schmidt, The A16Z partner part of the 11x DEAl, publicly doubled about his support for the company and CEO, Post on X in March where the company loved “Hasan and the entire team of 11x”, and that the “team, product and statistics are world class.”

Tavel too Posted on X saying, “As a board member I have seen the progress up close and our conviction in the team and the chance is stronger than ever.” Last week, Tavel, who joined Benchmark in 2017, also announced that she would take the position of Venture Partner, a more limited role in the legendary company.

A spokesperson for 11 times sent a long e -mail in which it was explained that the change was intended to place the right person in the CEO roll for a new growth phase of the company.

“Current CTO, FMR. Brex Exec and triple founder Pabhav Jain gets into the role of the CEO, with Hasan Sukkar who switches to a new role as a non-executive chairman, “wrote the 11x spokesperson.” The relocation reflects the growth of 11x: the company has evolved the company from a single product, Single Use-Case Company to a platform that promotes hundreds of the world’s leading GTM teams. “

Benchmark and A16Z did not immediately respond to a request for extra comment.

Charles Rollet has contributed reporting.