US based five-minute meditation app Simple Habit has reportedly secured an amount of $10 million in Series A funding round. This round was led by Silicon Valley-based venture capital firm Foundation Capital. With this, the developer’s total funding has reached up to $12.5 million.
Prior to this, Simple Habit previously raised $2.8 million from seed investors. Foundation Capital was also an investor in the initial seed round, which included Y Combinator, NEA, Drew Houston, CEO of Dropbox, and Josh Reeves, CEO of Gusto.
“Simple Habit has had a remarkable year,” said Yunha Kim, founder and CEO of Simple Habit. “As we welcomed millions of new users to our community, we added more than 1,000 new sessions to our audio content library, doubled the number of experts who contribute content on Simple Habit, and saw 80% of our growth fueled by strong organic word of mouth.”
The company was founded in 2016 by Yunha Kim after she discovered the benefits of meditation as a young, stressed-out startup founder. Talking about the company, it has achieved ten-fold growth in revenue, doubled the number of experts, and drove 125% growth in content offerings.
Simple Habit has helped more than 2.7 million people relieve stress and anxiety, with an average of 30,000 new users joining the platform every week. Also, the app is the number one ranked meditation app in iTunes and received the 2018 Google Play Award for Best Well-Being App.