Polygon will continue hiring despite market downturn: Bloomberg

Quick Take

  • Ethereum scaling solution Polygon’s head of human resources told Bloomberg about the firm’s hiring plans. 
  • She said the company hopes to add 200 people to its team by the end of 2022. 
  • Polygon raised $450 million through a token sale in February.

Ethereum scaling solution Polygon plans to continue hiring despite the bear market and choppy macro conditions, it said this week. 

This will include plans to increase its overall headcount by over 40%, according to an interview published by Bloomberg.

Bhumika Srivastava, the firm's head of human resources, said the company hopes to capitalize on the misfortune of other companies in the space. 

Srivastava added that the firm will use the bear market as an opportunity to hire, although the hiring landscape is difficult to navigate at present she admitted.


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"It is difficult to hire the quality talent you want, especially as web3 skills is something that’s still getting built,” she said. 

Polygon is well placed to hire at present having raised $450 million in a private token sale in February, led by Sequoia Capital India. The sale included more than 40 other investors, with SoftBank Vision Fund 2, Tiger Global, Alan Howard, Kevin O’Leary, Galaxy Digital, Sino Global Capital, Alameda Research, Digital Currency Group, Accel, Union Square Ventures and Dragonfly Capital all involved. 

Polygon said at the time that it planned to allocate $100 million to its ecosystem fund and about $10 million each per year to its various scaling products, including Hermez, Miden, Zero and Nightfall. 

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About Author

Adam Morgan is a reporter covering cryptocurrency, financial markets, and economics – anything from price movements, earnings reports, and inflation to the U.S. Federal Reserve interest rate decisions and everything in between. Adam is based in London.