Vancouver-based fraud prevention and cybersecurity firm GeoComply has laid off about 80 people as part of a significant restructuring.

The layoffs took place on April 15, CEO Kip Levin told The Logic. Staff affected worked in engineering, data science, risk and fraud analysis, and customer support. Some had worked at the company for more than a decade. Before the layoffs, GeoComply had more than 450 staff, with offices in Canada, the U.S., Vietnam and Poland. News of the layoffs was first reported by Sportico.

The layoffs hit people working in Canada, the U.S. and Vietnam, as well as Ukraine, according to LinkedIn posts. GeoComply employed a large number of people in Ukraine prior to the full-scale Russian invasion in February 2022. When war broke out, the firm helped many of the roughly 170 people it employed in Ukraine relocate to Canada and Poland.

“GeoComply realigned its internal structure to better support our next phase of growth,” Levin told The Logic, citing a “deliberate strategic evolution.” GeoComply’s reduced workforce will be better positioned to remain “ahead of rapid shifts in the regulatory and tech landscape, and the continued advancement of AI,” Levin claimed. GeoComply declined to answer follow-up questions.

Founded in 2011, GeoComply grew rapidly to become a major startup success story in Vancouver. GeoComply provides businesses with information about where their customers are located and who they are to help protect against fraud. Clients include DraftKings and BetMGM. In 2021, its valuation passed $1 billion. GeoComply had been working toward a U.S. initial public offering before the post-pandemic IPO freeze.

In March 2025, co-founder Anna Sainsbury, who had served as CEO since GeoComply’s founding, moved on to become executive chair of the board. The firm named Levin, who had previously worked at sports-betting firm FanDuel, as its new CEO. Much of GeoComply’s technology is made to serve the U.S. online gaming and sports-betting market, and the company said Levin would be well-positioned to grow its business 

GeoComply isn’t the only tech firm downsizing its workforce. More than 104,000 people in the global tech sector have lost their jobs so far this year, according to figures from Trueup, which tracks layoffs in the industry. That includes massive cuts at Meta, Amazon and Oracle. Most recently, Meta said it is planning to cut 10 per cent of its staff, or about 8,000 people, as it continues to invest heavily in AI.