Silicon Valley Journals 
REI has laid off 167 employees at its corporate headquarters, citing “increasing uncertainty” and the need to return to profitability. President and CEO Eric Artz said in a letter to employees on Tuesday that the layoffs affected 8% of the co-headquarters op’s workforce and less than 1% of its total headcount. REI made the switch … Read more
Bright Health Group is laying off 68 more employees at its Bloomington headquarters as part of a larger layoff. The move comes after 99 layoffs were announced in November, as well as a significant reduction in the overall scope of its business. Bright describes the latest move in its letter to the Minnesota Department of … Read more
BDG, the digital media conglomerate that owns brands like Elite Daily and Bustle, announced on Wednesday that it will cut 8% of its workforce and close the recently relaunched news and gossip website Gawker. In an email to employees, chief executive Bryan Goldberg said the company is “facing a surprisingly difficult” first quarter of 2023 … Read more
FedEx CEO Raj Subramaniam announced Wednesday that the company is laying off more than 10% of its officers and directors in order to cut costs amid slowing consumer demand. FedEx stock closed more than 4% higher at the close of trading on Wednesday. The layoffs come as the shipping industry recovers from the Covid pandemic … Read more
Kubeark, an open and infrastructure-agnostic platform with the mission of assisting enterprises with scalability, delivery, and lifecycle management issues, has raised $2.8 million in a pre-seed funding round. Credo Ventures led the investment round, with participation from Seedcamp, LAUNCHub Ventures, 500 Emerging Europe, and others. The investment will enable Kubeark to accelerate platform development and … Read more
Craft, the enterprise intelligence SaaS company, announced today the completion of a $32 million Series B equity financing to further develop its leading supplier intelligence platform, which enables organizations to understand, monitor, and optimize their supplier network and enterprise ecosystem. BAM Elevate, Balyasny Asset Management’s venture capital arm, led the financing, with participation from Greycroft, … Read more
Passthrough, a pioneer in fund workflow automation for investors, fund managers, and other fintechs, announced today a $10 million Series A round of funding. This brings the total funding amount to $15 million. Positive Sum led the round again, joined by Motley Fool Ventures, Broadhaven Ventures, and returning investors Company Ventures and Great Oaks VC. … Read more
Ratio Therapeutics Inc., a pharmaceutical company specializing in the development of targeted radiotherapeutics for cancer treatment, announced today the completion of its Series A financing round, bringing the total raised to date to more than $40 million. Duquesne Capital and Schusterman Family Investments led the latest round, with Kenan Turnacioglu, Ph.D., General Partner at Catalio … Read more
Spartan, a leading sensor software company, announced today that it has closed a $17 million Series B round led by 8VC and joined by Microsoft, Prime Movers Lab, MaC VC, Gaingels, and others. This demonstrates that, despite the start-up community’s significant economic headwinds, great technology and products with clear go-to-market strategies continue to attract investment. … Read more
Michroma, a leading precision fermentation food ingredient company, announced today that it has closed a $6.4 million seed financing round. The funding will help Michroma accelerate the commercialization of sustainable natural colorants, expand research and development capabilities, and broaden its ingredient platform. Petroleum, the base ingredient in most mainstream colorants, is removed from the food … Read more