Friday Fundings: Calm, Catawiki, and Sunday
Calm Works to Meet Growing Demand for Mental Health Resources
Calm, the meditation and relaxation app used by millions, has raised $75 million in fresh funding from investors including Lightspeed Venture Partners, TPG, and Insight Partners. This bumps the app’s valuation to $2 billion.
Individuals and companies have flocked to Calm during the pandemic. Many have faced anxiety, depression, and other mental health challenges this year while dealing with isolation and the loss of loved ones. Daily downloads of Calm have doubled in 2020 compared to 2019. People have listened to more than 1 billion minutes of content on Calm this year—a 100% jump from levels in 2019.
With its new funding, Calm hopes to grow through mergers and acquisitions, as well as add to its offerings, especially in international markets. This week, for example, it is adding content for Japanese-speaking listeners. Though hopefully next year will bring some much-needed relief from the stress of COVID-19, the pandemic has highlighted the importance of mental health, and resources like Calm.
Online Collectibles Catalogue Raises $182 Million
Catawiki, a Netherlands-based ecommerce platform, has secured $182 million in fresh funding. The round was led by Permira with participation from Accel, an existing backer.
Caawiki specializes in selling collectibles like classic cars, art, and jewelry, through online auctions. The platform has more than 10 million monthly unique users, who are mostly in Europe. With the new funding, the company plans to invest in marketing, technology, and hiring.
Sunday Raises Funding for a New Model of Lawn Care
Sunday, a startup rethinking the way the lawn care industry operates, has secured $19 million in a Series B funding round led by Sequoia Capital. Other investors included Tusk Ventures and Forerunner Ventures. The Boulder-based company has now raised a total of $28 million over the course of its two-year existence.
Sunday offers customized DIY lawn care products and sells them through a subscription model. The company develops a unique plan for each of its clients with the goal of cutting down the amount of pesticides people use on their lawns. With the new funding, Sunday plans to work on developing its products and expanding its team.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.