News

Meditation App Calm Raises $88 Million In Series B Funding

With this round of funding, Calm has gained a valuation of $1 billion.

Meditation App

The well-known meditation and wellness app, Calm has raised $88 million in Series B funding that has helped the app to be valued at $1 billion. Calm is one of the best wellness apps available in the market.

The financing round was led by TPG Growth, partnered with Creative Artists Agency (CAA), and existing investors Sound Ventures and Insight Venture Partners.

With this round of funding, the total funding till date has soared to $116 million. Last year, right after earning $27 million in Series A funding, the mindfulness app was able to hit another $250 million.

Michael Acton Smith, co-founder, and co-CEO of the company said,

As conveyed by Alex Tew, Calm’s co-founder and co-CEO, the funding amount of the mindfulness app will be directed towards achieving the international growth and will content investment.

According to the company’s claims, the Calm app has garnered more than 40 million downloads and backed by more than one million paying subscribers. If we consider its revenue model, Calm quadrupled its revenue in 2018 and aims to bag $150 million in annual revenue.

The Calm app was launched back in 2012 and since then, it has done tremendously well in the field of wellness. With its range of mindfulness and wellness tools, the app has helped a lot of users to heal from various kind of disorders.

To expand its services, calm partnered with American Airlines to offer various in-flight services and then, it invested $3 million in XPresSpa last year. These activities successfully helped the wellness app to market itself in the industry.

The concept of meditation is on the rise in the US and as per the CDC forecast (Centers for Disease Control and Prevention), there has been a growth of more than 300 percent from 2012 to 2017. And with such an aggressive round of funding, we expect the meditation apps like Calm to add more value to the wellness app industry.

Manish <span>Content Strategist</span>
Written By
Manish Content Strategist

With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!

Think Your Professional Journey
Deserves A Spot In Our 40 Under 40 Report?

Featured Success Stories

News

Tencent-Backed Homework App Yuanfudao Jumps To $3B Valuation

2 min read  

Yuanfudao, a six-year-old homework app startup announced this week that it has successfully elevated $300 million. The funding round was led by big-name investors including Tencent, China’s largest social networking and gaming company.Other participants to fund the homework app include War

News

Fintech Start-up B-Social Raises £3.2 Million Investment

2 min read  

B-Social, a London-based banking app startup that has created a ‘social finance’ app and offers a beta debit Mastercard, has successfully secured £3.2 million through its latest seed funding round.Founded in 2016, B-Social is currently applying to Prudential Regulation Authorit

News

Byju Valuation Reaches $3.6B After $540M Funding

2 min read  

Byju, an India-based educational startup, has reported to successfully raise over $400 million in funding in just a single round. This company with over a decade of rich experience in the field has recently made the announcement official regarding its valuation. A total of $540 million has been rais

Featured Success Interview

Interview

Interview With Coyote Jackson, Director of Product Management, PubNub

MAD Team 4 min read  

MobileAppDaily had a word with Coyote Jackson, Director of Product Management, PubNub. We spoke to him about his journey in the global Data Stream Network and real-time infrastructure-as-a-service company. Learn more about him.

Interview

Interview With Laetitia Gazel Anthoine, Founder and CEO, Connecthings

MAD Team 4 min read  

MobileAppDaily had a word with Laetitia Gazel Anthoine, Founder and CEO, Connecthings. We spoke to her about her idea behind Connecthings and thoughts about the company’s services.

Interview

Interview With Gregg Temperley, Founder Of ParcelBroker App

MAD Team 4 min read  

MobileAppDaily had a word with Gregg Temperley, Founder. We spoke to him about his idea behind such an excellent app and his whole journey during the development process.

App Development

How to Implement Artificial Intelligence and Machine Learning in an Existing App?

MAD Team 11 min read  

AI is for decision making, and ML makes the system to learn new things from data.

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH
Join our expansive network, build connections and expand your brand presence.