Headspace, a global leader in mindfulness and meditation, has raised a total of $93 million in its Series C funding round. The new capital will allow Headspace to compete for consumers with Calm, which raised an $88 million Series B round that valued the company at over $1 billion just a year ago.
WHO: Headspace was created with one mission in mind: to improve the health and happiness of the world. Reaching more than 62 million users in 190 countries, Headspace was one of the first meditation apps in the world and remains a leader in mindfulness and mental training. Headspace is committed to advancing the field of mindfulness through clinically validated research, having one of the largest research pipelines of any digital health and wellness company. Headspace operates a B2B business (Headspace for Work) to offer its mindfulness products and services to more than 600 companies, such as Hyatt, Adobe, GE, and Starbucks, to help them build healthier, more productive cultures and higher-performing organizations. Headspace partners with many of the world’s most recognizable brands, including Apple, Amazon, Google, and more. Headspace also partners with brands like Nike, NBA, and the U.S. Women’s National Soccer Team to offer sport and movement content. In 2018, Headspace launched Headspace Health, a digital health subsidiary pioneering new ways to incorporate the Headspace mindfulness experience into digital medicine.
WHY: In addition to growing its direct-to-consumer business, Headspace will continue to invest in Headspace for Work, its rapidly expanding B2B segment, which has seen its revenue double year over year from 2017 to 2018 and most recently in 2019, a trend it expects to continue. The company will also continue to invest in Headspace Health, its revolutionary endeavor to integrate mindfulness into healthcare. Headspace will also use the new capital to continue to accelerate its growth momentum, with a focus on further international expansion.
IN THEIR OWN WORDS: “Headspace has shown millions of people the power of using mindfulness to mitigate stress, anxiety, and other everyday issues, while continuing to advance the field through clinically-validated research,” said Richard Pierson, CEO and co-founder of Headspace. “As we think about the next ten years and beyond, we are focused on harnessing this power and applying it to other areas of our members’ lives to help them create healthy routines that last a lifetime—whether that is through our Headspace consumer app, the work we currently do with hundreds of employers, or with healthcare providers as we look to deliver better access. We are excited to work with leading global investors who share our vision to improve the health and happiness of the world.”
Alexandre Mars, entrepreneur & philanthropist, founding partner of blisce/, said, “Headspace’s mission to make health and happiness more accessible to people around the world resonates deeply with blisce/’s core belief that it is possible to both ‘Do Good’ while also building a strong business with sustainable growth. We are proud to partner with Rich, Andy, and the entire Headspace team in their commitment to transforming the mindfulness and meditation space through scientific research and authentic expertise, and are excited to support the impact they’re making on mental health, not only through the consumer app, but through their efforts across healthcare, digital medicine, science and the workplace.”
Rishi Jaitly, CEO of Times Bridge of India, said, “Headspace is the clear leader in mindfulness and meditation, and its rapid growth and international expansion is a testament to the company’s authenticity, influence and impact, particularly when it comes to the scientific work that has been an integral part of the business since the company’s inception. Headspace co-founder Andy Puddicombe began his mindfulness journey as a monk in India, and we’re excited to bring things full circle through this strategic partnership. We look forward to supporting the company as it enters one of the fastest-growing health and wellness markets in the world.”
DETAILS:
