California based meditation app Calm, the unicorn company has confirmed that it has bagged a $27 million Series B in its extension led by Lightspeed Venture Partners. The round also saw participation from a few celebrity angel investors.
Prior to this round, Calm had picked $88 million just a few months back led by TPG Growth which had turned the platform a unicorn. With this rounds capital infusion, the total amount raised by the firm now stands at $143 million. The other investors in the company include the names like Insight Partners, Sound Ventures, CAA Ventures Monkfish Equity, Concrete Hill, and Elefund. Launched in 2012 by Alex Tew, Michael Acton Smith, the platform allows users to meditate and relax. It also caters to most important mental health issues of the modern age, including anxiety, depression, insomnia, and stress.
Nicole Quinn a partner at Lightspeed commenting on the firm and how its Sleep Stories have helped them firm generate rapid growth. Through a blog, Quinn added that “Calm’s sleep stories have been listened to more than 150 million times, making it already a part of popular culture. However, Calm’s smart, scrappy, 65-person team is just getting started. It’s focused on building a truly global brand, a Nike for the mind, where international expansion has already begun.”
The company competes with the likes of Headspace, Simple Habit and Insight Timer in the mindfulness. As fresh funds arrive, it will be interesting to see if Calm can race ahead with the others in the segment, calmly.
Image Courtesy : calm