Meditation startup Calm raised $88 million in Series B led by TPG Growth, with participation from Creative Artists Agency (CAA) and existing investors Insight Venture Partners and Ashton Kutcher’s Sound Ventures.
This investment values the company at $1 billion, said Calm in a blog post, “making us not just any unicorn, but, the World’s First Mental Health Unicorn.”
The top priorities will be to expand into more languages internationally, grow our team (currently it is a small but mighty company of 50) and create more content (that means more Sleep Stories, meditations, music, and Calm Masterclasses).
Calm helps users cope with some of the most important mental health issues of the modern age including anxiety, stress, and insomnia.
“This financing will accelerate our mission to make the world healthier and happier, with international growth and an increased investment in content being top priorities,” said Alex Tew, Calm co-founder and co-CEO. “We are excited to be working with an incredible partner in TPG for this new phase of Calm’s journey.”
The round brings total funding to date to $116M.
“We started as a meditation app, but have grown far beyond that,” said Michael Acton Smith, Calm co-founder and co-CEO. “Our vision is to build one of the most valuable and meaningful brands of the 21st century. Health and wellness is a $4 trillion industry and we believe there is a big opportunity to build the leading company in this fast growing and important space.”
Calm is changing the way people think about their health and their mindset, responding to a global demand for wellness solutions,” said David Trujillo, Partner at TPG. “Calm stands out for its potential to succeed in a rapidly expanding health and wellness industry, and we’re excited about their prospects for growth.
The company claims to have over 40 million downloads worldwide and well over 1 million paying subscribers.
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