Simple Habit is a daily stress relief platform that has raised $10 million in Series A funding. This round of funding was led by Foundation Capital and was headed by general partner Steve Vassallo.
Previously, Simple Habit raised $2.8 million from seed investors. Foundation Capital also participated in this previous seed round along with Y Combinator, NEA, Drew Houston (Dropbox CEO), and Josh Reeves (Gusto CEO).
“Simple Habit has had a remarkable year,” said Simple Habit CEO and founder Yunha Kim. “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. We’re seeing that beyond every human’s desire to meditate is an even greater desire to reduce stress, feel happier and face life’s challenges with more resilience. As a company committed to helping people live better, every day, these insights fuel our excitement and vision to be the destination for mental wellness.”
Kim founded Simple Habit after she realized the benefits of meditation as a young startup founder. After dropping out of Stanford Graduate Business School, Kim wanted to build the “Spotify of Meditation.”
And after graduating from Y Combinator in April 2017, Simple Habit hit ten-fold growth in revenue and doubled the number of experts on the platform. Plus Simple Habit also drove 125% growth in content offerings. The top 10% of Simple Habit’s content experts are averaging a total of one million listens each. Going forward, Simple habit is going to expand beyond meditation with bite-size audio content led by execution coaches and therapists.
“The world desperately needs better ways to manage stress and anxiety,” added Vassallo. “That’s why Simple Habit is growing at a critical time. My partners and I believe in the great team at Simple Habit and their big vision to own the mental wellness and self-improvement market. We’ve been impressed with the company’s spectacular growth in just two short years. As a current leader in the massive health and wellness category, Simple Habit has an incredible opportunity to both do well and do good.”
So far, Simple Habit has helped more than 2.7 million people relieve stress and anxiety. And an average of 30,000 new users are joining every week.