Just a few years back, it would have been hard to think that a mindfulness app would end up being a big hit among users and, in turn, could convince investors to invest.
Last year, Calm, a meditation app, was named Apple’s app of the year and is ranked 50th among top grossing iOS apps. Now, the company, which has raised only $1.5 million in seed financing, is being rewarded by investors.
What is the Calm App?
Calm is the number one app for mindfulness and meditation to bring more clarity, joy, and peace to your everyday life. Calm started as a website that plays relaxing sounds and videos, but now it’s a full-fledged meditation app for both iOS and Android.
Like Headspace, the Calm app has a series of guided meditations that you can do for free, which is called the Seven Days of Calm.
The app, which contains the initial Seven Days of Calm, unguided sessions, some guided sessions, and tracking features, has no cost. However, one could opt to subscribe in order to gain access to the entire Calm catalog.
The subscription cost is $12.99 per month. Users could also choose other payment options, such as $59.99 per year and a lifetime subscription for a cost of $299.99.
Calm Offerings to Subscribers
So, what do subscribers get for paying $60 per year? A calm subscription provides the user with access to the company’s full library of content on their website and in the calm app, as well as all new features and content that they release while the user’s subscription is active.
The subscription also includes the Daily Calm sessions that company release every
day, as well as the Sleep Stories that they update on a weekly basis.
Additionally, the paid offering includes audio programs such as 7 Days of Sleep and 21 Days of Calm, which guide users through 10 to 15 minutes of sessions every day, to relieve stress and anxiety.
Investors to Invest in Calm
Following Calm’s success during the chaotic and stressful 2017, investors are now trying to invest in this San Francisco-based company.
Recently, Calm announced that it was able to raise $27 million in Series A funding at a $250 million pre-money valuation, which was led by Insight Venture Partners with special participation from Ashton Kutcher’s Sound Ventures and singer Harry Styles.
Since Insight is well-known for making later-stage bets, one could see how Calm has rapidly grown. Calm has more than tripled its sales last year and was generating a $40 million in annual revenue by December 2017.
Now, Calm plans to use this new funding that it acquired to increase its international expansion route and to further its mission to make the world happier and healthier.
No one could have guessed that these unexpected and recent developments would happen, but thanks to an increasing focus on mental health from both start-up companies and larger ones, companies like Calm are now catching the enthusiasm of investors.