Headspace raises $93 million in equity and debt as it pursues clinical validation for mindfulness (TechCrunch):
“Headspace, the Los Angeles-based mindfulness and meditation company locked in a bitter competitive struggle with Calm for leadership in the mental wellness world, has raised new capital to try to take the pole position.
The company has just closed on $93 million in new equity and debt financing from a slew of investors as it pursues a number of clinical studies that could provide scientific validation for the somewhat nebulous claims around the benefits associated with mindfulness and meditation.
That clinical validation can also unlock new dollars in the form of government payments for mindfulness therapies that could be used to treat a variety of conditions. It also makes more valid the company’s pitch to companies as a useful component of an employee benefit program … Headspace’s new cash comes from investment firm blisce, with participation from Waverly Capital, Times Bridge (the investment arm of The Times Group of India), The Chernin Group, Spectrum Equity and Advancit Capital. A $40 million debt financing from Pacific Western Bank supplemented the $53 million in equity.”
News in Context:
- The State of Mindfulness Science: 10 Key Research Findings to Encourage and Guide your Meditation Practice
- Study finds a key ingredient in mindfulness training: Acceptance (not acquiescence)
- Want to feel more Calm, get some Headspace, and practice Mindfulness Daily?
- Meditation app Calm said to be raising $25M to become the “Nike of the mind”
- Will personalized meditation apps be able to replicate the experience of working with a coach?