Meditation is becoming popular in the U.S. and across the world. As a result, Calm, a meditation app has become a unicorn company today. The development comes after the seven-year-old company received US$ 88 million in Series B funding. Further, the funding came from TPG Growth, CAA, Sound Ventures, and Insight Venture Partners.
The rising popularity of meditation from 4.3% in 2012 to 14.2% in 2017 is a strong representation of growth for Calm. As a result, the application interests people with its wide range of wellness and mindfulness tools.
Calm is Expanding its Horizons through New Ventures
While calm is helping people relieve from stress in their routine, it is also finding business in other areas of people’s lives. For instance, airports and travel. As a result in late 2018, Calm came out with a new venture – XpresSpa. It is chain of spa stores in airports where travelers could get a quick massage after a tiring day or flight.
Moreover, Calm offers meditation services integrated along with the in-flight entertainment system. The now-unicorn-company has partnered with American Airlines and is offering meditation services to people.
Calm’s popularity is evident from more than 40 million downloads, and whopping annual revenue of US$ 150 million. Further, there are one million paid subscribers. Co-founder and Co-CEO of Calm, Alex Tew said in a statement that the health and wellness is a US$ 4 trillion industry. He also said that the investments will go into making more content and international expansion. With so much potential, the company sees numerous opportunities to grow and become a valuable brand.