L Catterton provides capital to companies to support acquisitions, management buyouts, recapitalizations, and turnarounds. They consider investments across many targeted industry verticals within the consumer industry: food and beverage, retail and restaurants, consumer products and services, and media and marketing services.

L Catterton

Silver Lake is a global technology investment firm focused solely on making large-scale investments in leading technology companies.

Silver Lake

Sixth Street Partners is a financial services company that provides solutions for companies. Their solutions include healthcare, digital media, fund, real estate, and market solutions. Their market solutions platform provides products for markets, market investing, and market solutions.

Sixth Street

Ares Management is a publicly-traded global alternative asset manager with approximately $144 billion of assets under management. It believes each of its distinct but complementary investment groups in credit, private equity, and real estate is a market leader based on assets under management and investment performance.

Ares Management

HPS Investment Partners operates as a global investment firm with a focus on non-investment grade credit. Established in 2007, HPS has 93 investment professionals and over 200 total employees and is headquartered in New York with nine additional offices globally.  HPS was originally formed as a unit of Highbridge Capital Management, LLC, a subsidiary of J.P. Morgan Asset Management, and formerly known as Highbridge Principal Strategies, LLC. In March 2016, the principals of HPS acquired the firm from J.P. Morgan, which retained Highbridge’s hedge fund strategies. As of June 2016, HPS has approximately $30 billion of assets under management.

HPS Investment Partners

Equinox Fitness

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

Spring Health is a psychiatry platform that offers personalized mental health solutions ranging from psychiatric assessments to mindfulness exercises, employee assistance programs, and coaching with therapists and mental health professionals. Through the app, employees can select what they need to accomplish in terms of their mental well-being and receive personalized suggestions. Spring Health also facilitates appointment scheduling with therapists, mindfulness exercises, and chats with licensed professionals.The company claims that it can improve productivity by making employees happy with 70% of treatments scheduled after business hours.&nbsp;In May 2022, the company <a href="https://sp-edge.com/updates/10531">acquired Weldon </a>, a family, and pediatric-focused wellness provider to increase Spring Health’s product portfolio to support members and their families as part of its plan to enhance coverage for families.During 2022, Spring Health reported a 270% YoY revenue growth.Key customers and partnershipsAs of August 2023, the company served more than 4,500 clients, including Microsoft, Hershey, JB Hunt, Bumble, and Fujifilm. Furthermore, as of July 2024, Spring Health covered more than 10 million lives through 450 directly contracted employers, strategic payer relationships, and 27,000 groups accessing the solution through channel partners.Spring Health partnered with national health plan Highmark Health in October 2023 to launch a mental health solution called Mental Well-Being. Starting in 2024, those covered under the Affordable Care Act (ACA), fully insured, and Medicare plans (about 2.8 million members) will be eligible to access this solution.

Hydrant is a wellness brand company providing a balanced mix of electrolytes, minerals, and vitamins. The company created to hydrate quickly, using simple ingredients with lightly flavored with real fruit juice, no-nonsense, and delivers up to 3x the electrolytes of a sports drink. The no-nonsense, versatile, and refreshing product is a precise blend of balanced electrolytes and real fruit juice powder, developed by an Oxford scientist. Hydrant caffeinated hydration products can be purchased through Hydrant’s e-commerce channel, which offers a subscription option. The company's mission is to empower people to live healthier by creating and promoting the most effective, science-driven hydration possible.  Hydrant was founded in 2017 and is headquartered in New York, NY, United States.

Spring Health provides mental health solutions for employers and health plans. It uses Precision Mental Healthcare to seamlessly pinpoint and deliver the right fit for each person whether that’s digital support, meditation exercises, coaching, therapy, medication, and beyond.

Erewhon Erewhon is a shop for food, wellness, and natural products. They offer the finest selection of organically grown produce, groceries, and prepared food. They provide express catering alternatives, including breakfast as well as salads, entrees, side dishes, and desserts.

Industrious is a premium workplace platform, blending five-star service, and stunning design to provide an unparalleled workplace experience for established professionals.  Founded in 2013 by Jamie Hodari and Justin Stewart, the company provides members with stunning offices, inviting hospitality, and inspiring communities. By transforming real estate into a personal, elegant, and high-quality experience, Industrious built the concept of co-working into a scalable platform for businesses of all sizes. Industrious has more than 20 locations across the country. Industrious is headquartered in New York, New York.

Myodetox is a personal health company that specializes in minimizing joint, muscle, and nerve pain. They provide therapists like physiotherapists, chiropractors, and registered massage therapists. They also provides  appointment facility. They also delivers medicine in online.

Equinox operates 89 upscale, full-service clubs in New York, Los Angeles, San Francisco, Miami, Chicago, Boston, Dallas, Houston and Washington, DC, as well as international locations in London, Toronto and Vancouver. The company offers an integrated selection of Equinox-branded programs, services and products, including strength and cardio training, studio classes, personal training, spa services and products, apparel and food/juice bars.

Equinox is a luxury brand of companies that operates hotels, spas, and a fitness club. The fitness club arm offers both in-person workout locations as well as virtual workout options. Equinox’s gyms offer in-person access to curated classes, personal training, and luxurious amenities such as on-site spas, massage parlors, and meditation facilities. Its virtual workout options are accessible via the company’s ‘Equinox+’ app, which provides access to on-demand workouts and classes. The company operates workout locations in the US, Canada, and the UK and sells exercise machines and fitness apparel and equipment via an online store.

A new industry proving that digital connectivity and mental health can co-exist.

Digital Wellness

Equinox

Hydrant

Coefficient Capital

Rx3 Growth Partners

Spring Health

Northzone

True Capital Management

Subscription or membership-based platforms and apps to connect therapists, psychiatrists or behavioral health coaches with patients.

Erewhon

Stripes

Industrious

Riverwood Capital

CPP Investments

Granite Properties

Fifth Wall

TF Cornerstone

Wells Fargo Strategic Capital

Equinox is a luxury brand of companies that operates hotels, spas, and a fitness club. The fitness club arm offers both in-person workout locations as well as virtual workout options. Equinox’s gyms offer in-person access to curated classes, personal training, and luxurious amenities such as on-site spas, massage parlors, and meditation facilities. Its virtual workout options are accessible via the company’s ‘Equinox+’ app, which provides access to on-demand workouts and classes. The company operates workout locations in the US, Canada, and the UK and sells exercise machines and fitness apparel and equipment via an online store.As of March 2024, the company noted that it had experienced a surge in revenue of 27% in 2023, hit record-breaking member engagement, and operated 107 clubs worldwide.Equinox was acquired by North Castle Partners in December 2020, but it operates independently.Key customers and partnershipsEquinox has secured several brand partnerships that provide its members with access, and, in some instances, discounts on various products. These brands include Thorne, Provenance, Dorsia, Blade, ŌURA, Indagare, Bezel, and StockX.In May 2022, Equinox’s fitness club partnered with Omorpho to offer its apparel in Equinox’s locations across the US and online via its online store.

Headspace is a digital wellness company that delivers meditation programs through a smartphone app. The company was founded by Andy Puddicombe, a former Buddhist monk, and Richard Pierson, a marketing and brand development professional. In addition to meditation, Headspace offers stress management programs, mindfulness activities, and sleep therapy solutions. Headspace also operates a business-to-business (B2B) focused “Headspace for Work” program with around 1,600 corporate customers as of January 2021, which has seen around 3x growth during 2020. Further, the company operates “Headspace for Health,” a program that develops US Food and Drug Administration (FDA) approved meditation tools to treat chronic diseases.In November 2022, the company launched a new platform that combines its product offerings with mental health platform Ginger’s <a href="https://sp-edge.com/updates/5119">an entity it merged with in August 2021 </a>. The platform combines Headspace Health’s meditation and mindfulness services with Ginger’s on-demand coaching, therapy, and psychiatry services, to offer enterprise clients an integrated solution for supporting their employees.In September 2022, the company <a href="https://sp-edge.com/updates/12918">acquired fellow mindfulness platform Shine </a>for an undisclosed amount. The acquisition enhanced Headspace Health’s offerings and also helped grow Headspace’s member base. Select content from Shine was earmarked to be added to Headspace Health’s content library.In January 2023, the company <a href="https://sp-edge.com/updates/16052">expanded its geographical reach </a>to offer coaching, therapy, and employee assistance-related services to UK headquartered enterprise clients.&nbsp;Key customers and partnershipsAs of September 2024, the company has over 100 million users across 190 countries, with its brands “Headspace for Work” and “Ginger” being used by over 4,000 enterprises including Starbucks, Adobe, Delta Air Lines, Mattel, and Paramount. The company also partners with health plans, such as Cigna, to provide its services.In <a href="https://sp-edge.com/updates/36071">November 2024</a>, Headspace partnered with Hyatt, to help hotel guests improve their sleep quality while traveling. The collaboration featured a five-episode "Science Behind Sleep" video series filmed at Park Hyatt Aviara Resort, offering research-based tips for managing sleep struggles.In <a href="https://sp-edge.com/updates/30378">June 2024</a>, Headspace partnered with Uwill, a mental health platform for colleges and students, to integrate Headspace's wellness services into Uwill's existing portal. The collaborative effort allowed Uwill's Urise program to incorporate Headspace's services, primarily meditation, yoga, and mindfulness offerings.In <a href="https://sp-edge.com/updates/27330">March 2024</a>, Headspace partnered with Meta to launch "Headspace XR," available for an upfront fee of USD 30. Headspace XR provided guided mindfulness and meditation exercises led by the same instructors familiar to regular Headspace users. The exercises covered activities such as breathing techniques, body scans, and mood tracking. Additionally, it incorporated a social element, including interactive metaverse-style gaming in vivid environments.In <a href="https://sp-edge.com/updates/19771">June 2023</a>, the company extended its partnership with with employee benefit management platform provider Virgin Pulse to integrate its platform with Virgin Pulse’s platform. The integration enabled employees enrolled in Virgin Pulse’s health benefit offerings to access the full suite of Headspace’s offerings as a part of Virgin Pulse’s Homebase for Health platform.

Headspace

Calm is a digital wellness company which offers guided meditations to make people happy as well as mindfulness and sleep programs through a smartphone app. Its audio content is designed to strengthen mental fitness and address mental health challenges such as stress, anxiety, insomnia, and depression. The company started out as a website in 2011 where users were trained to stare at a screen and listen to waves on a beach for two minutes without touching their mouse. In February 2013, more content was added and the company launched a mobile app.&nbsp;In October 2022, the company launched a new clinical mental health offering called “Calm Health,” marking its expansion into the mental health space. The new solution provides condition-specific programs designed to bridge mental and physical care and includes tools for communication with providers and medication tracking. This solution was created for the company by Ripple Health, which was acquired by Calm in February 2022.As of 2024, Calm reported over 100 million downloads and more than 1.5 million five-star reviews. The app is available on iOS, Android, and desktop platforms. Calm operates on a freemium model with paid subscriptions unlocking full access to features. In 2023, an annual subscription cost USD 69.99, with monthly and lifetime options also available for USD 5.83 and USD 399.99, respectively. Key customers and partnershipsCalm offers content in English, Spanish, French, and German and operates Calm Business, a business-to-business (B2B) covering over 10 million employees across 3,500+ organizations as of September 2024.Calm gained significant traction in 2020 during the Covid-19 lockdowns. It became the most downloaded digital wellness app during April 2020 with 3.9 million downloads worldwide, including 1.6 million downloads in the US. Kaiser Permanente, a large managed care service provider, provided Calm free for its 12.4 million members in May 2019. Calm also partnered with CNN on the 2020 US presidential election day to play the sound of rain hitting leaves on air, a marketing effort that went viral on social media. As of September 2024, the app had 150 million+ downloads.As of December 2022, the company has partnered with over 20 brands to collaborate and provide its services through sales partnerships. These brands include Xbox, Amazon, YouTube, Adidas, Fitbit, and American Express.&nbsp;In October 2022, Calm partnered with <a href="https://news.adidas.com/partnerships/adidas-and-calm-unite-to-progress-sports-performance-through-mental-wellbeing/s/48baf8f2-f856-4313-91cf-71bf7238faea">Adidas</a> to progress sport performances through mental well-being. Another partnership is with <a href="https://www.cnbc.com/2020/10/20/lyra-partners-with-calm-to-bring-meditation-to-mental-health-service.html">Lyra Health</a> to combat stress and burnout and support resilience-building in the workplace.

Calm

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 Simple Habit is a guided meditation service provider, which offers bite sized, five-minute long meditation sessions through an app targeting people with busy schedules. The company also offers mindfulness, sleep, and wellness programs. As of November 2020, Simple Habit offered over 2,000 sessions designed to help users sleep, reduce anxiety, and get over relationship issues. The content is organized by occasion, such as commuting, going to sleep or preparing for a meeting. 
 
 
 In June 2022 the company launched its Sleep Habit app, a virtual sleep clinic that helps users improve the quality of their sleep. The app uses clinically validated approaches to improve sleep quality and treat issues such as insomnia via methods such as cognitive behavioral therapy. 
 
 
 As of September 2022, Simple Habit claims to have a 7 million users between both of its apps. 
 
 
 
 
 In November 2018, Simple Habit raised USD 10 million in a Series A round led by Foundation Capital, bringing the company’s total funding to USD 12.6 million. The company used the funds to expand its library of guided meditation sessions and to add audio content led by therapists and executive coaches. As of late 2018, the app was reported to sign up as many as 30,000 new users per week. As of November 2020, Simple Habit reported having helped helped over five million people reduce burnout through its app’s services.
 
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Simple Habit

Insight Timer is a company which offers guided meditation, yoga, and sleep programs through a smartphone app. It also offers free interactive live sessions with teachers, performers, and therapists through the app and web. The company’s business-to-business (B2B) offering, “Circles for teams”, targets enterprise customers to help bring employees together to practice group meditations, chat with each other, and recommend content. In October 2020, Insight Timer began offering free, daily live yoga classes from instructors based on a pay-what-you-can model.Insight Timer's core offering is its extensive free content library, which includes over 140,000 guided meditations, talks, and music tracks from thousands of teachers and experts worldwide. The app features a customizable meditation timer, allowing users to set session lengths and choose from various ambient sounds and ending bells.The majority of the content is available for free, and users can sign up for a premium version priced at USD 9.99 per month or USD 59.99 per year, as of August 2024. Premium users get access to content such as Insight courses and the ability to download content. This subscription unlocks additional features such as offline listening, the ability to fast-forward and rewind meditations, and access to over 1,000 in-depth courses on various topics. The app also offers live events, including yoga classes and meditation sessions, as well as a community space where users can connect with like-minded individuals and join discussion groups.Insight Timer collaborates with meditation teachers, psychologists, neuroscientists, and experts from institutions such as Stanford, Harvard, and the University of Oxford to provide content for its platform and with musicians to offer ambient and relaxation music. Insight Timer has positioned itself as a platform that supports its content creators with a revenue-sharing model that distributes 50% of course income to teachers. As of 2022, the app reported having approximately 12,000 teachers and yoga instructors contributing content to its platform. As of November 2020, the app had a 16% 30-day retention rate, more than double the average retention rate of 7.7% for top 100 apps in Apple’s App Store.&nbsp; Key customers and partnershipsThe app had over 29 million users as of September 2024. In April 2021, Insight Timer partnered with <a href="https://www.vondereurope.com/magazine/brand-partnerships-insight-timer">Vonder</a> to provide curated content, including different wellness classes and weekly group meditations. The company had also partnered with <a href="https://www.prnewswire.com/news-releases/gisele-bundchen-partners-with-insight-timer-to-encourage-millions-to-meditate-for-free-301126987.html">Gisele Bündchen</a> in September 2020 to encourage people to meditate for free.

Insight Timer

<div>
 
 Big Sky Health is the developer of the Oak Meditation breathing app. Oak Meditation offers guided and unguided meditations, sleep meditations, meditation timers, yogic exercises for breathing, animated instructions, and music tracks. The company is headed by Mike Maser, an entrepreneur who was diagnosed with stage IV cancer. Most of the companies services are offered free of charge with in-app purchases ranging from USD 5.99 to USD 38.99.
 
 
 
 
 In addition to Oak meditation, Big Sky also offers a fasting app called Zero and an alcohol moderation app called Less. In May 2020, Big Sky raised USD 8 million in Series A funding in a round led by Greycroft with participation from existing investors True Ventures and Trinity Ventures, bringing the company’s total funding to USD 12.2 million. Big Sky Health expects to use the funds to expand its staff and boost customer acquisition.
 
</div>

Big Sky Health

Apps that provide relaxation, stress reduction and non-therapeutic mental health support via meditation-related techniques.

These apps aim to increase users’ body and brain functions including memory and attention to detail with microlearning, gamification, and journaling techniques.

Helps users analyze and address sleep disorders with wearable tech, music and sound therapy, and storytelling.

Apps that provide virtual training programs, track workouts, and provide guides for nutrition.

Companies that use GenAI as a core part of their product offering for Digital Wellness

Some digital wellness providers provider VR/AR experiences for meditations

Some companies offer personalized care/meditation plans, workout regimens, or treatments for sleep disorders

Offers app-based platforms that improve health and wellness

Wellness providers use GenAI to enhance their solutions

INCUMBENTS_PRESENT

<div>
 
 Luxury fitness provider, Equinox, secured around USD 1.8 billion in a debt financing round led by Sixth Street and Silver Lake, along with other venture capital firms. The funding will refinance loans worth USD 1.2 billion, support general corporate goals, and finance the expansion of its clubs. Equinox aims to inaugurate 25 new sites in various key markets.
 
 The company presents a blend of physical workout locations and digital fitness alternatives. Physical facilities include curated classes, personal training and a variety of luxury amenities like on-site spas, massage parlors, and meditation areas. Digital services can be accessed through the Equinox+ app, offering on-demand workouts and classes. As per March 2024 records, the company witnessed a 27% revenue increase in 2023, with record-breaking member engagement and operates 107 clubs globally. 
 
</div>

Equinox

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