Toronto-based insurtech startup Briza laid off approximately 26 employees last week, representing nearly half of its workforce, which previously stood around 65. The layoffs occurred amid a broader economic tightening and challenging fundraising environment, leading to a leadership transition where CEO and co-founder Ben Munro stepped down. CTO Rishi Sharma has assumed the CEO role and executed the staff reductions, which included senior director-level positions. Founded in 2016 and backed by venture capital, Briza provides an insurance-as-a-service API platform for commercial insurance. This move reflects a wider trend of year-end workforce adjustments across the Canadian tech sector as companies brace for continued economic headwinds.
