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Invest in Calm


Founded: 2012

Headquarters: San Francisco, California



Last Round Valuation

$50 Billion

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About Calm

Calm is a leading mental health brand on a mission to support everyone on every step of their mental health journey. With the #1 app for sleep, meditation, and relaxation, Calm’s transformational mindfulness content supports over 150 million people and 3,500 organizations across seven languages in more than 190 countries. Fast Company’s Most Innovative Companies of 2020 and Time100’s Most Influential Companies of 2022.

Key Facts

The challenges associated with modern lifestyles are presenting pervasive issues of stress, anxiety, and a lack of mental well-being in individuals. Mental Health America reports that more than half of adults with mental illnesses lack treatment, and in 2023, over 30% of U.S. adults reported symptoms of anxiety and/or depression.

While mental health resources have been predominantly confined to clinical settings, with limited accessibility and affordability posing significant barriers, mental health apps are shifting trends from traditional care methods to patient-centric and personalized care.

With hundreds of hours of original audio content, the Calm app helps users cope with some of the most important mental health issues of the modern age including anxiety, stress, depression, and insomnia.

It provides a platform for users to access guided meditations, relaxation exercises, sleep aids, and other mindfulness resources, aiming to alleviate stress and promote mental health. Calm also enables businesses to offer mental wellness resources or workshops to their employees.

Calm’s initial core value proposition was a simple, app-based way to learn to meditate, but the company’s growth took off as it expanded into creating audio for broader human needs like stress relief and sleep.

Calm focuses on three core elements of mental wellness and healthcare: individual well-being, employee wellness, and clinical care.

Within the Calm app, the "Meditate" section provides users with access to speaker-guided meditation sessions, delivering comprehensive mindfulness content. Users can engage with meditations as stand-alone sessions, structured courses, or curated series, offering flexibility in duration ranging from three to thirty minutes.

Calm's “Sleep” offering encompasses "sleep stories," music, meditations, and soundscapes. Sleep stories, tailored for both kids and adults, serve as bedtime narratives to facilitate quicker sleep onset, with categories spanning fiction, nonfiction, naps, and others.

Sleep meditations are designed specifically to induce sleep, and the music section offers calming choices like acoustic or piano compositions. Soundscapes provide unique soundtracks mimicking specific scenarios or settings.

Within the Calm app's “Music” section, users have the option to categorize content based on mood, genre, and soundscapes.

The "For Work" section of the Calm app offers diverse features designed to support employees. “For Work” categories address managing feelings of being overwhelmed, regaining focus, achieving work-life balance, fostering motivation, and promoting professional growth.

The “Wisdom” section of the Calm app features guided sessions covering a diverse array of topics, with the goal of making meditation accessible to all users. This section incorporates inspiring stories and Masterclasses presented by public figures.

The "Movement" section of the Calm app is devoted to both physical and mental wellness, providing users with guidance through daily movement exercises categorized for specific purposes.

Calm Business is Calm’s enterprise-level solution helping organizations and people leaders globally take a proactive and preventative approach to mental health in the workplace to improve employee productivity, engagement, and overall well-being.

Calm Business offers Human Resources and leaders the resources they need to build effective mental health strategies including organization-level analytics, insights and reporting, dedicated customer service, workplace tool integrations, and tailored workshops.

Calm Health builds mental health care solutions for payers, providers, and self-insured employers to bridge the gap between mental and physical health care. Calm Health offers clinical mental health care programs featuring engaging content, caregiver communications tools, medication tracking, and more. Calm Health is designed to comply with HIPAA and HITRUST requirements and can be easily integrated into existing health technology systems.

Over time, Calm has evolved from a predominantly free app offering meditation recordings to a global paid content business. The Company’s audio content now features contributions from influencers, athletes, and celebrities and has expanded its services to include a business-to-business (B2B) offering focused on team wellness.

Over the last several years, Calm has gradually reduced the amount of content that is available on its app for free—from approximately 90% to roughly 5%. In turn, the company has increased the number of users who pay for its Calm subscription from approximately 2% to 7%, according to Sacra Research.

Calm operates a freemium model, with pricing distinctions between its Calm App and Calm Business offerings. The Calm App provides a fourteen-day free trial, followed by a subscription fee of either $69.99 annually or $14.99 monthly.

Calm Business offers two plans tailored for different organization sizes: a Team Plan for smaller teams of 5-100 employees and an Enterprise Plan for businesses exceeding 101 employees. The Team Plan's annual subscription cost per employee decreases with an increasing number of employees.

Calm currently has several lucrative partnerships with large organizations like Kaiser Permanente, and continued top-down sales into similar-sized companies could become a material revenue driver for the company in the future.

During the COVID-19 pandemic, Calm reportedly grew its revenue from $150 million to more than $500 million in 2021, according to Sacra Research. As of 2022, Calm was generating 66% year-over-year ARR (annual recurring revenue) growth.

In July 2023, Calm announced that it teamed up with Spotify to offer a variety of Calm’s transformative content, designed to support people on every step of their mental health journey, on Spotify's platform.

In October 2023, Calm announced a partnership with Match to champion the importance of self-love and mental well-being in creating healthy relationships, less loneliness, and a more fulfilling life. Calm and Match are offering five full-length Calm sessions designed to ease you into the practice of self-love so you can reap the benefits for your well-being and your relationships in the long run.

In November 2023, Calm announced that it’s partnering with SoundCloud to introduce new mental health and wellness benefits exclusively for artists. SoundCloud’s robust member benefits program includes exclusive offers and discounts from music and creative companies like Discord, Squarespace, Adobe, Splice, and more. The addition of Calm marks an expansion and the first partner in the mental health and wellness space.

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Key Investors

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Size of Market

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Market Position

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Key Officers

Name Work History Title Status
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current


Valuation Over Time


Last Round

Sept. 2019, Series B1

Valuation Post-Money


Amount Raised


Total Funds Raised


Implied Valuation


Funding Rounds

Date Round Amount Valuation Investors
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here

Competitive Landscape

Company Valued Revenue
San Francisco, CA
$2.8B $1.3B
San Francisco, CA
$2.8B $1.3B
San Francisco, CA
$2.8B $1.3B

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