Calm raises $75 million at $2 billion evaluation

Anne Freer | December 10, 2020

App Business

Popular sleep and meditation app Calm raised $75 million in a Series C funding round led by Lightspeed Venture Partners and with participation from Salesforce CEO Marc Benioff, TPG, and Insight Venture Partners.

This brings its current valuation to $2 billion at a total funding of $217 million.

Calm plans to use the funds to extend its presence in the wellness sector and business collaborations.

Calm for Business already serves over 10 million people through employer relationships.

The company provides training in meditation and stretching to help employees manage stress and anxiety at work.

It’s posted a 25% adoption rate and 75% engagement level.

“We’ve only just begun supporting companies on their journey to increase employee resilience,” said CEO Alex Tew in a statement. “This financing round will advance our efforts in building a strong global workforce, meeting overwhelming market demand. Our Calm for Business expansion is a priority as employer investment in mental health skyrockets.”

Mindfulness has been a hot topic ever since COVID-19 lockdowns spiked anxiety rates among a growing number of people working from home and suffering mentally as a consequence of rapidly changing living conditions.

The app says it has over four million paying subscribers and seen downloads of up to 100 million since 2012 when it launched.

Ever since, Calm has been extending its audio library and offering up unique content to help improve people’s lives.

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