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Headspace

Digital Wellness
Extended Reality
Mental Health Tech
Product stageSegments
Growth
?
Meditation and Psychological Wellness, Mindfulness and Cognition, Sleep Therapy
?

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.

As of January 2023, 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 a health plans, such as Cigna, to provide its services.

In January 2022, the company acquired Sayana , an AI-powered mental health provider which helps employees manage stress and anxiety, improve sleep and increase productivity. The acquisition was carried out to expand Headspace's services to provide personalized self-care to its users.

In June 2022, the company launched a new training program for senior leaders and managers to support mental well-being in the workplace.

In September 2022, the company acquired fellow mindfulness platform Shine for an undisclosed amount. The acquisition enhanced Headspace Health’s offerings by supporting inclusiveness and diversity while also growing Headspace’s member base. Select content from Shine was earmarked to be added to Headspace Health’s content library.

In November 2022, the company launched a new platform that combines its product offerings with mental health platform Ginger’s an entity it merged with in August 2021 . 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 January 2023, the company expanded its geographical reach to offer coaching, therapy, and employee assistance-related services to UK headquartered enterprise clients. The company stated it plans on continuing this international expansion into other countries throughout 2023 but did not mentioned specifics.

In April 2024, Headspace introduced a new mental health coaching service that offered one-on-one support in tackling a wide range of life challenges. The service was available to its direct-to-consumer subscribers at a rate of USD 99.99 per month. The company claimed the experts had been trained to help individuals set realistic goals, initiate new habits, and motivate change while providing them full responsibility for their achievement.

Key customers and partnerships

In June 2023, the company extended its partnership with with employee benefit management platform provider Virgin Pulse to integrate its platform with Virgin Pulse’s platform. This integration enables 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.

Most recently, in March 2024, Headspace partnered with Meta to launch "Headspace XR," available for an upfront fee of USD 30. Headspace XR provides guided mindfulness and meditation exercises led by the same instructors familiar to regular Headspace users. The exercises cover activities such as breathing techniques, body scans, and mood tracking. Additionally, it incorporates a social element, including interactive metaverse-style gaming in vivid environments.

Funding and financials

In July 2023, the company raised USD 105 million in debt funding from Oxford Finance. The funding was set aside to develop and enhance the company's platform, with a focus on its enterprise offerings, such as in-person clinical care capabilities, substance use disorder support, and next-generation EAP services.

Digital Wellness

Digital Wellness

Key stats
Featured companies
83
Total funding (USD)
3.8 Bn
Total addressable market (USD)
6.0 Bn
Key competitors
 
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EDGE Insights

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Digital Health (Q3 2023): Funding gains momentum, GenAI dictates pace of activity

Recent Updates

Product updates
Apr 23, 2024
Headspace introduces direct-to-consumer mental health coaching services
Digital Wellness
Product updates
Apr 23, 2024
Headspace introduces direct-to-consumer mental health coaching services
Mental Health Tech
Product updates
Partnerships
Mar 6, 2024
Meta and Headspace collaborate to launch VR meditation app at USD 30
Extended Reality
Product updates
Partnerships
Mar 6, 2024
Meta and Headspace collaborate to launch VR meditation app at USD 30
Digital Wellness
Product updates
Partnerships
Oct 10, 2023
Ōura partners with Headspace to tackle stress and mental wellness; announces new product features
Digital Wellness
Partnerships
Aug 31, 2023
Headspace and Intermountain’s Castell sign mental health support partnership
Mental Health Tech

Company Brief


HQ location:
2415 Michigan Avenue Santa Monica CA USA
Founded year:
2010
Employees:
501-1,000
Total Funding:
USD 320.9 million
Last Funding
USD 105.0 million, Jul 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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