The rapidly growing mindfulness app Calm is breathing easier these days with more money from its latest funding round.
It raised $27 million in new funding, according to a blog post by one of its investors, Lightspeed Venture Partners. It and TPG Partners are continuing the Series B funding round started earlier this year when it raised $88 million from TPG, Creative Artists Agency, Insight Venture Partners and Sound Ventures.
This new funding round puts Calm’s total haul at $115 million. It’s also likely to push its valuation further beyond the $1 billion it leaped past in the last funding session. Calm has not announced whether or when it will consider going public as many high-flying unicorns already have this year.
Calm, based in San Francisco, has more than 100 million listeners, thanks to users seeking medicine-free ways to address mental health issues like anxiety, stress and insomnia. Calm seeks to entertain as well as help users unwind with adult bedtime stores read by popular celebrities. Calm has announced that several new celebs will contribute new stories to the app, including musician Moby, actors Mathew McConaughey and Stephen Fry.
“There are very few apps that boast about putting their audience to sleep, but then there are very few apps like Calm,” wrote Lightspeed investor Nicole Quinn, in a blog post. “We believe the subscription-based audio app market in the US is just beginning and Calm is in the epicenter.”
Image credit: Calm