Startups are running a little leaner

With dealmaking slower than it was in 2021, many startups are scrambling, trimming what is often their biggest expense: employees.

Data from Carta shows that headcounts have dropped across the board. For instance, seed stage companies have gone from having nearly 7 employees on average to just over 5, while companies that closed Series C rounds in the first half of 2024 did so with workforces that were, on average, 43% smaller than those of last year.

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