Simple Habit raises $2.5 million to help expand its meditation app
Posted by ishubhamsingh
Sometimes you just have to slow down before you can start working again. Many people turn to mediation to relax and center themselves for a few minutes every day. Today, a meditation app for Android and iOS, Simple Habit, announced the launch of a new 3.0 version. The company behind the app also announced it has raised $2.5 million in additional funding.
Simple Habit offers a series of five minute meditations, and they are categorized for a number of specific situations, such as going to work, speaking in public, or going out on a date. These exercises have been created by what the company says are the “world’s leading meditation teachers.” The app allows anyone to check out over 50 of these exercises for free. However, it also supports in-app purchases for unlocking its Premium tier, which will let users access over 1,000 different meditation lessons in the app, with more added on a regular basis. The Premium fee is $9.99 a month, $69.99 a year or $299.99 for lifetime access.
Since the Simple Habit app launched about eight months ago, the development team claims that it has brought in over 400,000 users, although there’s no word on how many of them are paid subscribers to the Premium tier. The new $2.5 million in funding came from a number of sources, including New Enterprise Associates (NEA), Fabrice Grinda’s FJ Labs, Foundation Capital and the founders of Dropbox and Gusto. The development team calls the app the “Spotify for meditations” and we would bet that it would love to have the millions of subscribers that the music streaming service currently has.
Do you think that the meditation lessons in Simple Habit are worth the Premium fee? Let us know your impressions in the comments!
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