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Published July 8, 2019
Published July 8, 2019

Less than five months after raising an $88MM Series B and becoming the first mental health unicorn, meditation app Calm has added another $27 million to that round, according to one of its investors. The seven-year-old app unlocked its must-have feature that makes it a habit rather than an aspiration—sleep.

WHO: Launched in 2012, Calm was co-founded by Alex Tew and Michael Acton Smith. The app is addressing some of the most important mental health issues many people struggle with — insomnia, anxiety, depression, and stress. Every second of every day, Calm adds another user, with more than 50 million downloads and almost 2 million paid subscribers. It is the top-grossing health and fitness app in the iOS store and was named Apple’s 2017 App of the Year.

WHY: According to Techcrunch, the investment will help the $70 per year subscription app further expand from guided meditations into more self-help masterclasses, stretching routines, relaxing music, breathing exercises, stories for children, and celebrity readings.


  • Lightspeed invested $27 million into a Series B extension round in Calm alongside some celebrity angels at a $1 billion valuation.
  • TPG Growth led the latest round, which also included participation from Creative Artists Agency (CAA) and existing investors Insight Venture Partners and actor Ashton Kutcher’s Sound Ventures.
  • The extension takes the company’s Series B to $115 million, bringing its total funding to date to $143 million, according to its Crunchbase profile.
  • In June 2017 the company raised a $27 million Series A and a convertible note in November 2018.
  • Seed round in 2014 of $584K.
  • Calm quadrupled revenue in 2018 to $80MM from $20MM and is now a profitable business.

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