Tuesday, June 16, 2020

Meditation app Headspace raises another $47.7m in funding | Music Ally

If there’s one startup category that’s booming during the Covid-19 pandemic, it’s meditation and mindfulness – particularly when it comes to raising money from investors.

Headspace, one of the biggest companies in the space, raised $93m of funding in February this year, but just a few months later it has extended that round by a further $47.7m. “We had always planned an extension of our Series C. This extension is now complete and was led by existing investors,” the company told CrunchBase in a statement.

When the original round was announced in February, Headspace had been downloaded more than 62m times, and had more than two million paying subscribers. It hasn’t updated those stats since, but according to mobile analytics firm Sensor Tower, Headspace was installed 1.5m times in April alone, behind only rival Calm’s 3.9m downloads in the ‘mental wellness’ apps category.

Stuart Dredge

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