Since they raised $61 million (source https://techcrunch.com/2024/02/05/cloud-native-container-man...) they probably had way more team than $10 million could support. Since they raised the VC money I guess that downsizing to a team that the business can sustain is not an option.

According to LinkedIn they were 50-200 employees which after excluding all the other costs for running a company, is definitely not enough to cover the fully-burdened payroll of even a 50 person organization that’s probably predominantly Engineering types, that assumption being if most people are US-based (or if they don’t do “location based” pay, and indexed off a more expensive location).