Andreessen Horowitz-Backed Carta Is Cutting 10% of Staff

Carta Inc., a financial software company valued at $7.4 billion in August 2021, told employees on Wednesday it was cutting about 10% of the workforce.

The job cuts, earlier reported by TechCrunch, are more evidence of the chill that has set in for even the best-funded tech startups. Carta raised $500 million in equity last year, bringing its total fundraising haul to more than $1 billion.

Carta makes software to manage equity stakes in private companies, and has been backed by firms including Andreessen Horowitz, Lightspeed Venture Partners and Silver Lake. Prominent venture capitalist Marc Andreessen sits on ...