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Venture Capital News: Simple Habit Snags $2.5M

SAN FRANCISCO, CA, Fresh out of Y Combinator, leading meditation platform Simple Habit is announcing a $2.5 million funding.
The round was led by top-tier investors in Silicon Valley. Investors include New Enterprise Associates (NEA), Fabrice Grinda's FJ Labs, Foundation Capital and founders of Dropbox and Gusto.

Simple Habit's Founder and CEO, Yunha Kim, started meditating to manage stress from her last startup Locket (Acquired by Wish in 2015). She tried a variety of stress relief techniques and found meditation to be the most effective. However, she found there was no single place where she could discover top mindfulness and meditation teachers or techniques designed for her busy lifestyle. While at Stanford's Graduate School of Business, she started building Simple Habit as a personal passion project. After realizing its powerful impact on people's lives, Yunha dropped out of Stanford to fully focus on building the world's leading platform for mindfulness and meditation.

"Simple Habit was crafted from a personal need that applies to all of us," said Rick Yang from NEA. "The benefits of mindfulness and meditation are clear, and Yunha and the team have built a beautiful product and experience that makes it accessible to everybody."

"I'm impressed with Yunha and her vision for Simple Habit," says Drew Houston, CEO of Dropbox. "Meditation has helped me immensely and Simple Habit is well on its way to helping millions of people to integrate mindfulness and meditation into their lives."

Simple Habit specializes in 5 minute meditations tailored to specific situations and moods. Its library includes 1000+ meditations guided by the world's top mindfulness teachers, with topics like commuting to work, public speaking, preparing for a date, and dealing with coworkers. By making meditation easily accessible, Simple Habit helps people reduce stress, sleep better and improve every aspect of their lives.

"We aim to help millions of people throughout the world live more mindfully," says Kim. "This new round of financing will allow us to expand our team in San Francisco."

Amongst thousands of raving reviews on the App Store, one customer writes about how Simple Habit has helped her stay uplifted and resilient through stress at work. "I started using Simple Habit to battle the stresses of a high-paced, high-stress work environment. The guided meditation works miracles in calming my brain and bringing me into focus for work."


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About Simple Habit

Simple Habit is an on-demand meditation platform curated for busy lifestyles. It specializes in 5 minute meditations for specific situations and moods, like commuting to work, public speaking, or even going on a date. Crafted by the world's leading meditation teachers, the app is already one of iTunes's top-grossing meditation platforms, and was recently nominated for the 2017 Google Play Awards. Over 50 sessions are free in the app, with the option to upgrade to a Premium version for $11.99/month and $99.99/year. The company is based in San Francisco, CA.
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