Hasan Sukkar Steps Down as CEO of 11x

CEO Transition at AI Startup 11x

Hasan Sukkar, the founding member of the artificial intelligence company 11x, has announced his departure from the position of Chief Executive Officer via a LinkedIn post this morning.

Prabhav Jain, currently serving as 11x’s Chief Technology Officer, has been appointed as the new CEO of the organization.

Sukkar's New Role

Sukkar will assume the position of “non-executive chairman,” where he will collaborate with Jain on key areas such as strategic planning, product development, fostering industry connections, and identifying new market possibilities. He intends to continue supporting 11x’s advancement “into the future.”

In a LinkedIn statement, Sukkar expressed his passion for building companies from their initial stages. He conveyed a strong belief in 11x’s mission and the significant opportunities that lie ahead.

“Recognizing when to delegate the CEO responsibilities for the subsequent phase of growth is sometimes an expression of dedication to the company,” Sukkar stated.

Previous Reporting and Challenges

Earlier reports from TechCrunch in March highlighted concerns regarding 11x’s display of customer logos on its website, with some companies not being active clients and one threatening legal action.

Sources also indicated that the 11x product faced challenges and the company experienced difficulties in retaining customers. Certain employees characterized the work environment as demanding.

Funding and Investor Confidence

To date, 11x has secured over $70 million in funding from investors. This includes a $24 million Series A round led by Sarah Tavel of Benchmark, and a $50 million Series B round spearheaded by Andreessen Horowitz.

Joe Schmidt, a partner at a16z involved in the 11x investment, publicly affirmed his support for both the company and its CEO, stating on X (formerly Twitter) that the firm held a high regard for the entire 11x team, its product, and its performance metrics.

Tavel also expressed her continued confidence in the team and the opportunity via a post on X. Notably, Tavel recently transitioned to a venture partner role at Benchmark, a position with reduced responsibilities.

Company Statement on the Transition

A representative from 11x released a detailed statement explaining that the leadership change was designed to position the most suitable individual for the CEO role during a new phase of company expansion.

“The current CTO, a former executive at Brex and a three-time founder, Prabhav Jain, is assuming the CEO position, while Hasan Sukkar is transitioning to the role of Non-Executive Chairman,” the spokesperson explained.

The shift reflects 11x’s evolution from a company focused on a single product and use case to a platform supporting numerous leading Go-To-Market (GTM) teams.

Investor Response

Benchmark and Andreessen Horowitz did not provide immediate responses to requests for further commentary.

Reporting assistance provided by Charles Rollet.