Proptech startup Rhino lays off over 20% of its staff

Rhino, a proptech startup that offers an alternative to security deposits, has laid off 57 employees, or more than 20 percent of its staff, The Real Deal has learned.

Employees were informed of the cuts in an email Thursday morning from CEO Paraag Sarva. Those to be let go were invited to a noon meeting, according to a laid-off staffer who spoke on condition of anonymity.