Blocknative Reduces Headcount by Third, After Suspending Work on Relay Project

Blocknative, a provider of tools for transactions on the Ethereum blockchain, has recently undertaken a restructuring that resulted in a headcount reduction of just over 33%, according to CEO Matt Cutler. The company is “focused on extending our runway so that we have ample opportunity to pursue our Real-Time Observability thesis,” Cutler told CoinDesk in an email. Blocknative, which was founded in 2018, now has 24 people in total, according to Cutler, implying about a dozen employees were affected. The company raised $12 million in a funding round in July 2021 from Foundry Group, Blockchain Capital Robot Ventures and others, after raising $5 million in a seed round a year earlier, CoinDesk previously reported.

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