Pros
Startup DNA: the company is still relatively young and small which means it hasn’t acquired layers of formality and rigidity. E.g. It can bring new products to market quickly. Management is accessible with concerns. There’s not a lot of bureaucracy. Information is accessible/transparent. Employees are trusted and given agency over their objectives. Many employees come from science, consulting or clinical backgrounds. These are ambitious, hardworking people who don’t have time or tolerance for organizational politics (no fiefdoms or inter-department subterfuge). It’s refreshing to be able to put your head down and work. People truly pull together as one team. Work/life balance is great. Leadership puts an emphasis on maintaining a startup ethos.
Cons
Being a waning startup means that benefits are still maturing (no 401k match, etc.). However, these are slowly being built out as the company’s ARR grows. With growth comes ambiguity and changes. People who thrive in a well-defined process-based framework may struggle unless they incorporate some mechanisms for flexibility. Quite often employees must identify a problem and solve it without explicit directives.