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Meditation app Calm said to be raising $25M to become the “Nike of the mind”

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This med­i­ta­tion app is now worth $250 mil­lion and has Trump-relat­ed stress to thank (CNBC):

Med­i­ta­tion start-up Calm was so suc­cess­ful dur­ing a chaot­ic and stress­ful 2017 that Apple rec­og­nized it as the app of the year.

Well done, Calm,” Apple said in Decem­ber.

Now the San Fran­cis­co-based com­pa­ny, which to date has only raised $1.5 mil­lion in seed financ­ing, is being reward­ed by investors. Insight Ven­ture Part­ners is lead­ing a fund­ing round that val­ues Calm at about $250 mil­lion, accord­ing to sources famil­iar with the mat­ter. The total fund­ing will exceed $25 mil­lion, said the sources, who asked not to be named because the deal has­n’t closed and won’t be announced for a few weeks.

Found­ed in 2012 by Michael Acton Smith, who pre­vi­ous­ly cre­at­ed video game com­pa­ny Mind Can­dy, and ser­i­al entre­pre­neur Alex Tew, Calm more than tripled its sales last year and was gen­er­at­ing $40 mil­lion in annu­al rev­enue by the end of 2017, Acton Smith told CNBC in a Decem­ber inter­view. That num­ber has since jumped to $60 mil­lion, sources said … As of three months ago, Calm had about 20 employ­ees run­ning what Acton Smith described as a very prof­itable dig­i­tal busi­ness with grand ambi­tions to expand well beyond guid­ed med­i­ta­tion and become a giant con­sumer brand. Phys­i­cal world prod­ucts like books, cloth­ing, a Calm Hotel and per­haps a Calm Island some­day are all part of the vision. He called Calm the “Nike of the mind.”

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Categories: Cognitive Neuroscience, Education & Lifelong Learning, Health & Wellness

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As seen in The New York Times, The Wall Street Journal, BBC News, CNN, Reuters,  SharpBrains is an independent market research firm tracking how brain science can improve our health and our lives.

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