Relaxation app Calm raises $88 million, valuing the idea $1 billion

More Americans are meditating than ever. About 14 percent of adults said they meditated in 2017, a threefold increase via 4.1 percent in 2012, according to a report via the Center for Disease Control as well as Prevention’s National Center for Health Statistics. The study did not collect any information on what drove the increases, although researchers told CNBC cellphone apps may have contributed to the increase.

In addition to meditation, Calm has found a niche in sleep. the idea said Wednesday its sleep stories, which are essentially adult bedtime stories, have surpassed more than 100 million listens. the idea has teamed up with celebrities like Matthew McConaughey, Stephen Fry as well as Leona Lewis to narrate the stories.

Smith said Calm wants to expand to some other countries in some other languages.

“America is usually only 4.5 percent of the total global population, so there are a lot of some other people that will can enjoy the product as well as help the company grow,” he said.

Calm is usually the top grossing health as well as fitness app as well as 20th overall on iOS, according to App Annie, an app market data firm. Headspace is usually the seventh-highest grossing health as well as fitness app as well as 103rd overall on iOS, App Annie said.

Headspace has raised a total of $75 million. In June 2017, the company confirmed the idea was valued at $320 million. the idea currently generates more than $100 million in revenue per year.

Correction: that will article was updated to correct inaccurate information provided by Headspace about when the idea was valued at $320 million.

-CNBC’s
Ari Levy
contributed to that will report