Headspace Raises $30 Million To Accelerate Growth Of Its Meditation App

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Venice, CA-based digital health startup Headspace has closed a $30 million venture capital round that it will use to ramp up marketing and development efforts on its meditation and mindfulness training platform. The round was led by digital media investor the Chernin Group, which also invested in SoundCloud, Tumblr, and Flipboard. Deerfield Capital Management, Broadway Video Ventures, Allen & Company, LinkedIn CEO Jeff Weiner, and Hollywood notables Jared Leto, Jessica Alba, and Ryan Seacrest also participated in the round.

Headspace was founded in 2010, but did not raise outside financing until 2014, when it took in $150,000 in debt financing followed by a $4 million seed round. Over its first five years, the company built and launched a platform designed to help people train their minds toward specific mental goals like stress less, focus more, or listen better. Users are coached toward each goal through guided mindfulness meditation sessions. The company has both iOS and Android apps, and offers a freeware model called Take10 that provides users with a handful of 10-minute guided meditation sessions. A $12.99/month premium version of the platform unlocks far more content and lets users pursue mental health goals through curated meditation paths.

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Headspace’s platform is reportedly used by 3 million people, logging in from across 150 countries, and the company’s online community forum has 650,000 members, all admirable metrics for a startup that’s just now seeing its first serious outside investment. With its new capital, Headspace will grow its employee base, which is currently divided between California and London, to add more engineers and marketers to the roster. With an impressive base of early users, Headspace will begin adding additional content, building out more robust features, and ramp up marketing efforts to get the app onto the phones of more people.


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