Calm, a widely known meditation app, has raised new capital at a valuation of $2 billion. The spherical was anticipated after the corporate was reported to be hunting for up to $150 million at a valuation of $2.2 billion; maybe Calm will comply with within the steps of Robinhood and add a second tranche to the round in time.
Prior investor Lightspeed Venture Partners led the funding, which additionally noticed participation from Perception, TPG and Salesforce CEO and new Slack proprietor Marc Benioff, amongst others.
That Calm was in a position to safe extra capital is no surprise. The corporate has a historical past of fast income development, and is reportedly worthwhile, as well. And the funding comes after psychological health-focused startups as a class have performed well from a enterprise capital perspective.
Calm and rival service Headspace have now raised a mixed $434 million in accordance with Crunchbase information, underscoring how enticing their fashions have proved to enterprise capitalists. In line with a Bloomberg interview, Calm is contemplating buying smaller corporations within the wake of its new capital occasion.
The startups sells a shopper service for round $70 per 12 months, or $15 per thirty days. And the startup has constructed out a company arm, “Calm for Enterprise,” that doubtless brings income stability that augments its shopper efforts.
As a part of a launch regarding at the moment’s information, Calm detailed various almost helpful development metrics. The service has over 100 million downloads (meaningless sans extra incremental outcomes), for instance, and four million paying customers (we requested if that information was inclusive of any Calm for Enterprise prospects, a query Calm didn’t reply).
Different PJDM queries relating to the corporate’s economics, income development and efficiency in comparison with its pre-COVID plan additionally went unanswered.
Regardless, Calm now has a refreshed battle chest heading into 2021 and a plan to go searching. That ought to generate a headline or two.
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