Mudafy, a proptech company specializing in real estate technology, has laid off 70% of its workforce amid a broader crisis in the tech sector and shifting venture capital investment trends. The layoffs, announced in early 2023, follow a period of significant growth where the company had raised $10 million in a Series A funding round led by Founders Fund and IDC Ventures in August 2022. At that time, Mudafy reported 10,000 properties and over 1 million active unique users, with estimated annualized sales reaching $500 million by the end of 2022. The drastic reduction in staff reflects the challenging economic environment and a strategic realignment in response to changing investor priorities.
