Meditation app Headspace raises $93m from Blisce, Times Bridge, others

Photo: Unsplash

Los-Angeles headquartered Headspace, a mindfulness and meditation company, has raised a total of $93 million in a mix of equity and debt funding to continue to scale in India and globally, the company announced on Wednesday.

The Series C round was led by US-based growth stage venture firm Blisce, and joined by Waverley Capital and Times Bridge, the investment arm of Bennett Coleman and Co. Ltd’s Times Group. Existing investors Chernin Group, Spectrum Equity and Advancit Capital, too, joined the round.

The equity portion of the financing comprises about $53 million, while the balance $40 million was secured as debt capital from Pacific Western Bank.

In addition to growing its direct-to-consumer business, Headspace will continue to invest in Headspace for Work, its B2B segment, it said in a statement. It will also use the new capital to expand in international markets.

Rishi Jaitly, CEO of Times Bridge of India, said, “Headspace co-founder Andy Puddicombe began his mindfulness journey as a monk in India, and we’re excited to bring things full circle through this strategic partnership. We look forward to supporting the company as it enters one of the fastest growing health and wellness markets in the world.”

Headspace, which was founded in 2010 by Richard Pierson and Puddicombe, helps users apply mindfulness to promote health outcomes and supports its members through content tailored around stress, anxiety, sleep and focus, among other key need states.

The company claims to have witnessed over 62 million downloads in 190 countries, of which over 2 million are paid subscribers. It counts Starbucks, Adobe, Hyatt and GE, among its corporate customers. It also claims to have one of the largest research pipelines in the digital health space, with over 70 clinical studies conducted with institutions such as Carnegie Mellon and the University of California.

Headspace said it will continue its expansion in Asia through strategic relationships with partners such as Times of India.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.