Los Angeles Business Journal

Meditation App Headspace Raises $34 Million from Celebrity Investors

By Garrett Reim Wednesday, September 16, 2015
Headspace app

Headspace app

Meditation guide app Headspace has raised a $34 million round from a star-studded cast of celebrities and investors.

The round was led by Chernin Group, with participation from Advancit Capital, Allen & Co., Breyer Capital, Broadway Video Ventures, Deerfield Management, Freelands Ventures, William Morris Endeavor, actress Jessica Alba, actor Jared Leto, television host Ryan Seacrest and LinkedIn Chief Executive Jeff Weiner.

Headspace declined to confirm the round amount, which was detailed in a Security Exchange Commission filing. Founded in 2010, Venice’s Headspace had previously raised $5.45 million in debt and equity.

Headspace’s app provides interactive guides to different meditation techniques. It also has a catalog of live events, books and podcasts. A monthly subscription to the app costs $12.95, a yearly subscription $94.99. The company said it has 3 million users, but declined to say how many are paying subscribers.

The company will use the funds to hire engineers and marketers, acquire new users, improve personalization features and adding more content to its platform.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.