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Feb 06, 2019
Calm Raises $88M, Becomes First Mental Health Unicorn

With investment from TPG,  the company is on a path to becoming the leading global health and wellness  brand.

SAN FRANCISCO (February 6, 2019) – Calm today announced that it has raised $88 million in a Series B  financing, valuing the company at $1 billion USD. The funding round is led by TPG Growth with participation from Creative Artists  Agency (CAA), and existing investors Insight Venture Partners and Sound  Ventures. The round brings total funding to date to $116M.

Calm  tackles some of the most important mental health issues of the modern age  including anxiety, stress, and insomnia. According to the CDC, U.S. meditation practice more than  tripled from 2012 to 2017. In addition, one in four Americans has trouble sleeping and Calm’s Sleep Stories – bedtime stories  for adults – have surpassed more than 100 million listens, with original  stories read by celebrities including Matthew McConaughey, Stephen Fry and  Leona Lewis.

“This  financing will accelerate our mission to make the world healthier and happier,  with international growth and an increased investment in content being top  priorities,” said Alex Tew, Calm co-founder and co-CEO. “We are excited to be  working with an incredible partner in TPG for this new phase of Calm’s  journey.”

Calm  is profitable and has grown rapidly to over 40 million downloads worldwide,  with one new user joining every second. The company quadrupled revenue in 2018,  is currently on a $150 million annual revenue run rate, and has well over 1  million paying subscribers - all with a team of 50.

“We  started as a meditation app, but have grown far beyond that,” said Michael  Acton Smith, Calm co-founder and co-CEO. “Our vision is to build one of the  most valuable and meaningful brands of the 21st century. Health and wellness is  a $4 trillion industry and we believe there is a big opportunity to build the  leading company in this fast growing and important space.”

“Calm  is changing the way people think about their health and their mindset,  responding to a global demand for wellness solutions,” said David Trujillo,  Partner at TPG. “Calm stands out for its potential to succeed in a rapidly  expanding health and wellness industry, and we’re excited about their prospects  for growth.”

The  San Francisco-based company was crowned Apple’s 2017 iPhone App of  the Year, and became the top grossing health and fitness app in 2018, as measured by App Annie. Calm is also bringing mental fitness to a  wider audience through partnerships with American Airlines, Sonos, Uber, XpresSpa and more.

Calm is a leading global health and wellness  brand with the #1 app for sleep, meditation and relaxation. The company is on a  mission to make the world happier and healthier. With hundreds of hours of  original audio content, the Calm app helps users tackle some of the most  important mental health issues of the modern age including anxiety, depression  and insomnia. Apple’s 2017 iPhone App of  the Year and Inc.’s 19th fastest growing  company boasts over 40 million downloads to date, averaging 75,000 new users  daily.

TPG Growth is the middle market and growth equity  investment platform of TPG, the global alternative asset firm. With  approximately $13.5 billion of assets under management, TPG Growth targets  investments in a broad range of industries and geographies. TPG Growth has the  deep sector knowledge, operational resources, and global experience to drive  value creation, and help companies reach their full potential. The firm is  backed by the resources of TPG, which has more than $94 billion of assets under  management. For more information, visit

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