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Calm raises $27M to McConaughey you to sleep


Meditation app unicorn Calm wants you to doze off to the dulcet tones of actor Matthew McConaughey’s southern drawl or writer Stephen Fry’s english accent. Calm’s Sleep Stories feature that launched last year is a hit, with over 150 million listens from its 2 million paid subscribers and 50 million downloads. While lots of people want to meditate, they need to sleep. The 7-year-old app has finally found its must-have feature that makes it a habit rather than an aspiration.

Keen to capitalize on solving the insomnia problems plaguing people around the world, Lightspeed tells TechCrunch it has just invested $27 million into a Series B extension round in Calm alongside some celebrity angels at a $1 billion valuation. The cash will help the $70 per year subscription app further expand from guided meditations into more self-help masterclasses, stretching routines, relaxing music, breathing exercises, stories for children, and celebrity readings that lull you to sleep.

Calm App

The funding adds to Calm’s $88 million Series B led by TPG that was announced in February that was also at a $1 billion valuation, bringing the full B round to $115 million and Calm’s total funding to about $141 million. Lightspeed partner Nicole Quinn confirms the fund started talks with Calm around the same time as TPG, but took longer to finish due diligence, which is why the valuation didn’t grow despite Calm’s progress since February.

“Nicole and Lightspeed are valueable partners as we continue to double down on entertainment through our content” Calm’s head of communications Alexia Marchetti tells me. The startup plans to announce more celebrity content tie-ins later this summer.

Broadening its appeal is critical for Calm amidst a crowded meditation app market including Headspace, Simple Habit, and Insight Timer plus newer entrants like Peloton’s mindfulness sessions and Journey’s live group classes. It’s become easy to find guided meditations online for free, so Calm needs to become a holistic mental wellness hub.

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