As per a new SEC filing, mindfulness and meditation app Headspace has built on February's Series C raise with an additional $47.7 million in funding, bringing the round's equity total to $100.7 million.
The company told CrunchBase News, which first spotted the filing, that all of the company's lead investors from its prior rounds took part.
WHAT THEY DO
Santa Monica-based Headspace’s best known product is a free-to-download meditation app. Once they’ve enrolled, users select an area of their mental or behavioral health they’d like to focus on and receive a sample of meditative exercises targeting this area. Hundreds of guided mindfulness offerings and sessions are also available if users choose to subscribe to the company's paid service.
Alongside the consumer app, the company also has groups and products dedicated to employer benefits programs and mental health-focused meditation. As of the earlier part of this year, the company said that its products had been downloaded more than 62 million times across 190 countries.
WHAT IT'S FOR
The add-on funding would presumably be aiming for many of the same goals Headspace outlined near the beginning of the year. This includes supporting and growing its D2C, B2B and digital health businesses, as well as pushing its international efforts in Europe, South America and Asia.
Headspace is one name among the many developing behavioral health apps for consumers. Calm, a meditation and sleep app, raised over $100 million in Series B funding last year, while guided meditation app Simple Habit closed $10 million in late 2018.