Calm set to raise $150 million doubling its valuation

Anne Freer | October 15, 2020

App Business

Calm, the popular meditation and sleep app, is apparently in discussion to raise $150 million in funding.

According to sources close to the matter, the funding round which includes a share sale, would more than double its valuation to $2.2 billion.

To date, the app raised $143 million and its last valuation came in at around $1 billion.

Calm has seen downloads skyrocket among the sweeping coronavirus pandemic. In April 2020, downloads rose to 3.9 million, head of competitors Headspace and Meditopia.

The top 10 meditation apps generated $195 million in revenue last year, up 52% over 2018. Much of that growth was driven by new users discovering these apps for the first time.

It has got some popular investors on its books including singer Harry Styles, Monkfish Equity, Insight Partners, TPG, Lightspeed Venture Partners and Sound Ventures.

Calm also boasts some popular narrators on the app including John McEnroe and Matthew McConaughey.

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