Teamwork, a Cork-based project management software company and one of Ireland's fastest-growing indigenous tech businesses, has decided to postpone its plans to raise tens of millions in venture capital. Co-founder Peter Coppinger cited weakening tech valuations due to the unprecedented Covid-19 crisis as the reason, stating the company will hold off on fundraising for now. The company, which bootstrapped its way to around $30 million in revenue last year, is adjusting its strategy amid the global economic uncertainty, though specific layoff numbers or percentages were not disclosed in the available content.
