US-based meditation app developer Headspace has raised $47.7m in funding according to a regulatory filing, from investors including corporates Bennett Coleman & Co (BCC), Broadway Video, WME and Chernin Group.
The company confirmed to Crunchbase News that the capital represents an extension to the $53m in series C funding it secured in February this year alongside $40m in debt financing, adding that all its series A, B and C investors took part in the extension.
Formally known as The Orange Dot, Headspace has built a mobile app that assists users in meditating and mindfulness in order to help reduce stress and improve sleep. It has now received $217m in debt and equity financing since it was founded in 2010.
The company said in a statement to Crunchbase News: “We had always planned an extension of our series C. This extension is now complete and was led by existing investors, adding $47.7m to the $53m raised in February, bringing the total equity funding to $100.7m for our series C.”
The February round was led by investment firm Blisce and included over-the-top media company Chernin Group, media group BCC’s Times Bridge subsidiary, Waverley Capital, Spectrum Equity and Advancit Capital, with Pacific Western Bank providing the debt portion.
Chernin Group led Headspace’s $34m series A round in 2015, investing with Broadway Video Ventures, a subsidiary of entertainment producer Broadway Video, as well as talent agency WME, Advancit Capital, Allen & Company, Breyer Capital, Deerfield Management, Freelands Ventures and various individuals.
Spectrum Equity subsequently the company’s $36m series B round in 2017, participating alongside undisclosed additional investors.
