Headspace, the Los Angeles-based mindfulness and meditation company locked in a bitter competitive struggle with Calm for leadership in the mental wellness world, has raised new capital to try to take the pole position.
The company has just closed on $93 million in new equity and debt financing from a slew of investors as it pursues a number of clinical studies that could provide scientific validation for the somewhat nebulous claims around the benefits associated with mindfulness and meditation.
That clinical validation can also unlock new dollars in the form of government payments for mindfulness therapies that could be used to treat a variety of conditions. It also makes more valid the company’s pitch to companies as a useful component of an employee benefit program.
The company touted a pipeline of 70 clinical studies working in conjunction with academic partners, including Carnegie Mellon, University of