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 observe 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 progress, and is reportedly worthwhile, besides. 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 keeping with Crunchbase information, underscoring how enticing their fashions have proved to enterprise capitalists. In keeping with a Bloomberg interview, Calm is contemplating buying smaller firms within the wake of its new capital occasion.
The startups sells a client service for round $70 per 12 months, or $15 monthly. And the startup has constructed out a company arm, “Calm for Enterprise,” that probably brings income stability that augments its client efforts.
As a part of a launch regarding in the present day’s information, Calm detailed a variety of practically helpful progress metrics. The service has over 100 million downloads (meaningless sans extra incremental outcomes), for instance, and 4 million paying customers (we requested if that information was inclusive of any Calm for Enterprise clients, a query Calm didn’t reply).
Different TechCrunch queries relating to the corporate’s economics, income progress and efficiency in comparison with its pre-COVID plan additionally went unanswered.
Regardless, Calm now has a refreshed conflict chest heading into 2021 and a plan to go looking. That ought to generate a headline or two.