Positive food, Calm layoffs, and taking stock of Meta's new $35 million man

So that slow news cycle sped up a bit. (The GIF is a joke, of course; we will refrain from any hot takes.)

Thanks very much to SaaStr for sponsoring this week's StrictlyVC Download podcast. Fresh from the oven, Alex and I take readers through a handful of the week's most interesting goings-on in tech and venture; we hope you enjoy it, and we hope you enjoy it from a beach, while sipping a margarita. (We especially want these things for you since our own vacation is over.)

Speaking of interesting goings-on: SaaStr Annual 2022 is almost here (it takes place September 13th through the 15th), and organizers say to expect 10,000 SaaS founders, execs, and investors at the event this year. StrictlyVC readers can use code STRICTLYVC to save 20% off tickets before they sell out. 

Have a great weekend.

Stocks rose sharply today, clinching the fourth straight positive week for the S&P 500 as investors celebrated signs that inflation may be peaking.

Congress gave final approval today to legislation that would reduce the cost of prescription drugs and pour billions of dollars into the effort to slow global warming. National Geographic has more here.

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Eat the Change, a two-year-old, Bethesda, Ma.-based outfit that sells mushroom jerky and veggie kids' snacks, has raised $14.5 million in new funding led by Collaborative Fund, with participation from S2 Ventures and others. The company was cofounded by Seth Goldman, who previously sold the organic tea brand Honest Tea to Coca-Cola in 2011. Coca-Cola announced plans just this spring to phase out the product; Goldman, apparently spying opportunity anew, has since filed a trademark application to sell a new bottled tea-based beverage under the label Just Iced Tea (which will be part of Eat the Change). The Washington Business Journal has more here.

Farther, a three-year-old, New York-based wealth management firm, has raised $15 million in Series A funding led by Bessemer Venture Partners, with participation from Khosla Ventures, MassMutual Ventures, and earlier backers Moneta Venture Capital, Context Ventures, and Cota Capital. The outfit has now raised $22 million altogether. TechCrunch has more here.

Fora, a year-old, New York-based developer of a travel booking management system, has raised $13.5 million in Series A funding co-led by Heartcore Capital and Forerunner. The outfit has now raised $18.5 million to date, says Skift.

FullStory, an eight-year-old, Atlanta, Ga.-based company that sells analytics tools for apps and websites, secured $25 million in new equity financing, paperwork filed with the SEC this week shows. According to Crunchbase, the infusion is FullStory’s first since August 2021, bringing the company’s total raised to around $200 million. TechCrunch has more here.

FundamentalVR, a seven-year-old, Boston- and London-based startup that sells virtual reality and haptic software for medical simulation, said it has raised $20 million in Series B funding led by EQT Life Sciences, with participation from Downing Ventures, Tern, and Sana Kliniken, which is the third largest teaching hospital network in Germany. The company has now raised $30 million altogether. MedCity News has more here.

Insilico Medicine, an eight-year-old, clinical-stage end-to-end AI-driven drug discovery company in Hong Kong, announced today that it has completed a $35 million Series D2 round, led by Prosperity7 Ventures, the diversified growth fund of Aramco Ventures, bringing the total raised in Series D financing to $95 million. Tech in Asia has more here.

Invisible Universe, a Los Angeles-based animation studio that's developing characters for social media (interesting), raised $12 million in Series A funding. Seven Seven Six led the round and was joined by investors including Cosmic Venture Partners, Dapper Labs, Franklin Templeton, Gaingels, Initialized Capital, Schusterman Family Investments, Wheelhouse, and 75 & Sunny. Variety has more here.

Jiminny, a six-year-old, London-based conversation intelligence startup focused on supporting sales teams, has raised $16.5 million in Series A funding led by Kennet Partners, a transatlantic growth equity firm. Grit Daily has more here.

Positive Food, a four-year-old, Los Angeles-based startup providing freshly packaged salads, heat-and-eat prepared meals and vegan overnight oats, has raised $7 million in funding from BlueYard Capital, Western Tech, Y Combinator, Gaingels and a group of entrepreneurs. TechCrunch has more here.

Wondermind, a 10-month-old, New York-based mental fitness startup cofounded by pop star Selena Gomez, is reportedly raising $5 million in early stage funding at a valuation of $100 million as it looks to capitalize on a boom in the mindfulness trend. Serena Ventures is leading the round, joined by Lightspeed Venture Partners and Sequoia Capital. Brent Saunders, the former CEO of pharmaceutical company Allergan, is also taking part. Gomez has been open about her mental health struggles, disclosing in 2020 that she was diagnosed with bipolar disorder. Bloomberg has more here.

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Calm, maker of popular meditation and wellness app Calm, has laid off 20% of its staff, according to a memo sent by Chief Executive David Ko to employees yesterday. San Francisco-based Calm reportedly employed roughly 400 people, suggesting approximately 90 were laid off. The WSJ has more here.

Marc Harrison, a longtime executive with the Cleveland Clinic who most recently ran Intermountain Healthcare, Utah's biggest health care system, is leaving to run a "healthcare platform business" for the venture capital firm General Catalyst. Axios has more here.

Javier Olivan is Facebook's new $35 million man. Here's a look at how much the new Meta COO has been paid over the years. 

Inside the Apple vs Facebook privacy fight: according to the WSJ, before they went to war, the two tech giants discussed revenue-sharing arrangements, including a potential ad-free, subscription version of Facebook.

Peloton will embark on a sweeping overhaul that includes cutting nearly 800 jobs, raising prices for its Bike+ and Tread machines, and outsourcing functions such as equipment deliveries and customer service to outside companies. Bloomberg has more here.

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