Calm, a San Francisco, CA-based provider of relaxing applications, raised an additional $27m in Series B funding.
Lightspeed Venture Partners made the investment.
The company, which had announced $88m in Series B funding back in February 2019, intends to use the funds to continue to expand operations and its business reach, even offline.
Co-founded by Michael Acton Smith and Alex Tew, Calm provides an app for sleep, meditation and relaxation, available in both the App Store and Google Play store. It has had over 50 million downloads. It creates audio content that strengthens mental fitness and tackles some of the biggest mental health challenges of today: stress, anxiety, insomnia and depression.
The most popular feature on the app is a 10-minute meditation called ‘The Daily Calm,’ that explores a new mindful theme and inspiring concept each day. It also contains over 120 Sleep Stories (bedtime stories for grown-ups), plus sleep music, meditation lessons, nature sounds, videos, multi-day programs and masterclasses delivered by world experts and a music streaming platform with calming music and sounds organised into four, specially curated audio categories: Focus, Relax, Sleep and Nature Melodies.