Jared Leto, Jessica Alba Invest in Meditation App

Mike Rosenthal
Jessica Alba

Headspace's other investors include Shari Redstone's Advancit Capital, Lorne Michaels' Broadway Video Ventures, WME, Jessica Alba and Ryan Seacrest.

Hollywood is coming out in support of meditation app Headspace. 

The Venice, California-based startup has raised an undisclosed round of funding led by Peter Chernin's The Chernin Group. Sources peg the round's size at $30 million.

Other investors who participated include Shari Redstone's Advancit Capital, Allen & Co., Breyer Capital, Lorne Michaels' Broadway Video Ventures, Deerfield Management, Freelands Ventures and WME. Individuals including Jessica Alba and husband Cash Warren, Jared Leto, Ryan Seacrest and LinkedIn CEO Jeff Weiner also participated. 

Founded in 2010, Headspace has developed a mobile app and web service that offers up mindfulness exercises focused on health, performance and relationships. A subscription — which starts at $12.95 a month and runs as much as $419.95 for a lifetime pass — also include access to live events, books, web content and a podcast, Radio Headspace. The app focuses on short meditation sessions, from 10 minutes to an hour, that train the mind to "be in the moment." 

The company, which claims more than 3 million app users, will use the funds to diversify its content, improve the app's personalization features and hire additional employees at its Venice headquarters and London outpost. "We're excited that we have been able to attract such an amazing group of investors to help us achieve our ambitious plans," said CEO Sean Brecker, who adds that the service is meant to "help people prioritize the health of their minds by taking proactive steps for a healthier, happier life." 

Adds co-founder and mindfulness expert Andy Puddicombe: "We believe this funding round will allow us to accelerate efforts to help people be healthier and happier, by making authentic, engaging and practical tools accessible to everyone." 

comments powered by Disqus