Mobile meditation and relaxation apps such as Headspace and Calm have seen increased financing from investors. Headspace has received $75 million, and Calm raked in $88 million, according to the report. Calm is currently valued at $1 billion, while Headspace is valued at $320 million, TechCrunch reports.
Wellness apps have risen in popularity as a result of a cultural shift away from overworking, Calm CEO and Co-founder Michael Acton Smith, told CNBC.
“A few years ago, people would show off how little sleep they had,” Mr. Smith said. “Now, people are horrified by that.”
Headspace and Calm users pay monthly or yearly subscriptions to use the apps, and both companies have more than 1 million subscribers.
More articles on health IT:
Blockchain lobbying has tripled since 2017
IBM director shares insights on Aetna blockchain ecosystem
CEOs see pay raises after cyberattacks, study finds
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.