Headspace raises big money
Emailed on February 14th 2020 in The Friday Forward
Meditation company Headspace announced this week it raised $93 million in a Series C funding round.
Headspace ushers users through guided meditations...and its numbers are massive. The app has over 62 million downloads and more than 2 million paid subscribers.
Headspace was my introduction to meditation years ago, can confirm it's a great app. The $93 million fundraise has two parts—$53 million in equity and $40 million in debt. Blisce led the equity round and Pacific Western Bank provided the debt.
Headspace plans to use the money to contend with major rival, Calm, which reached unicorn status last year. Interesting developments to look out for include:
Headspace Health, the startup’s effort to integrate mindfulness into healthcare. The medical community hasn’t signed off on meditation as official medicine, so Headspace is investing in clinical research.
Headspace’s enterprise arm, Headspace for Work. H4W supports people at 600+ employers, and revenue has doubled in each of the past two years.
International expansion. Headspace tapped a former Apple exec to peddle its French and German iterations across the pond.
For anyone in enterprise software, the enterprise arm is interesting. Another reminder that lines between B2B and B2C are being blurred by the day.
We might have our political differences, but at the end of the day we're all just people buying software.