Startup News

Meditation App Simple Habit App raises $10 million in Series A Funding

CEO Kim asserts that because April 2017 (a couple of months before a cameo on ABC’s Shark Tank), Simple Habit’s programs for Android, iOS, along with the net have attained”tenfold” uptick in revenue and over 80 percent natural expansion. That is interpreted to 2.7 million complete signups and also an average of 30,000 new users weekly.

Simple Habit will utilize the new capital to expand its library of over 1,500 guided meditation sessions, and also to provide sound content directed by therapists and executive coaches. This season, it included 1,000 new sound paths and doubled the amount of subscribers, who make cash on a Spotify-like revenue-share version.

The top 10 percent of articles has over a million listens each, Kim stated.

“Simple Habit has had a remarkable year,” Kim stated. “We are seeing that beyond each individual’s need to meditate is a much greater need to decrease anxiety, feel more happy, and face life’s struggles with more durability. As a company dedicated to helping people live better, daily, these insights fuel our vision and excitement to be the destination for emotional health.”

Also Read: Snapchat’s new feature allows you to create a highlight reel of your messages with friends

Simple Habit’s guided meditation monitors — ranging in duration from 5 minutes to 20 minutes — are coordinated by event, like commuting, going to sleep, or even preparing for a meeting. They feed spotlight attributes such as a daily telling that educates users to be aware, a flow chart that charts advancement over time, along with a stats display showing the entire amount of minutes and sessions finished.

Roughly 50 or all those sessions are free, however, obtaining access to the complete catalog demands a $11.99 a month ($99 per year) subscription or a one-time $299 charge. Premium members also secure offline listening.

If it has to do with meditation and mindfulness programs, Simple Habit is not the only game in town. It competes with Headspace, Pause, Calm, Shine, BioBeats, and Digg co-founder Kevin Rose’s Oak, some of which have a considerable financing edge. Calm increased $27 million in a $250 million evaluation in June, while Headspace earned a $37 million around last summer.

But that has not rattled investors such as Foundation Capital general partner Steve Vassallo, that predicted Simple Habit’s expansion”impressive.”

Also Read: This Facebook bug allows various sites to read users likes and interests

“The world desperately needs better methods to control stress and stress,” Vassallo said. “That is why Simple Habit is increasing at a vital moment. My partners and I think in the excellent staff at Simple Habit and their huge vision to have the psychological wellness and self-improvement marketplace… As a current leader in the huge health and wellness group, Simple Habit has an amazing chance to do well and do well.”

About the author

Andrew Hawkins

CEO & Founder

Andrew before founding PrismDaily was a reporter at The Verge, He covered technology updates related to ride-sharing services like Uber and Lyft, public transit, policy, infrastructure, hoverboards, the Hyperloop, and the physical act of moving through space and time. Prior to this, he wrote about politics at Crain's New York Business and the New York Daily News. He lives in Brooklyn with his wife, two kids, and many different brands of peanut butter.

To get in touch with Andrew for news reports he published you can email him on [email protected] or reach him out in social media linked below.

Add Comment

Click here to post a comment