Meditation app Calm said to seek funds at $2.2 billion valuation

The popular mental wellness app Calm is looking into raising $150 million in a funding round at $2.2 billion valuation, according to Bloomberg.  

It is said that Calm, which has reached a valuation of $1.1 billion to date, aims to more than double its valuation by exploring a new funding round. People familiar with the matter said to Bloomberg that “the share sale could include a component allowing some early investors to sell.”

Calm became a unicorn by raising $88 million in a Series B funding in 2019, following its 2018 Series A round that valued the company at more than a quarter billion dollars.

 Mental wellness apps saw a 24% increase in April 2020 as compared to January due to lockdown. Calm was ranked #1 among the top meditation and sleep apps by downloads, with 3.9 million installs. The app had 911,000 more downloads than in January with a growth of approximately 31%.