The Simple Habit app recently received $10 million in funding to continue operations as a meditation-focused mindfulness app. Designed as a helpful mediation app, Simple Habit allows users to participate in meditation tracks ranging from five minutes to 20 minutes. The tracks are organized across various occasions, such as going to sleep, commuting, or preparing for a meeting. These meditation tracks are also bolstered by daily notifications that remind users to be mindful, and a flow graph that charts progress over time.
The new round of capital garnered by Simple Habit will be used to further expand its library of meditation sessions. The library already consists of 1,500 entries but is hoping to expand to audio content led by therapists and executive coaches. The money would go on to continue funding some of these contributors who are paid using a Spotify-like revenue-share model.
Expanding Mindful Meditation Apps
Simple Habit Encourages Users to Take Time For Themselves
Trend Themes
1. Personalized Mindfulness - The trend of personalized mindfulness apps like Simple Habit presents an opportunity for businesses to develop targeted meditation experiences for different occasions and user preferences.
2. Audio-driven Content - The rise of audio-driven content in mindfulness apps, as seen in Simple Habit's expansion plans, opens up opportunities for industries to create engaging and immersive meditation experiences utilizing audio technology.
3. Collaborative Mindfulness - The trend of collaboration between mindfulness app developers and therapists or coaches, as observed in Simple Habit's revenue-sharing model, offers a potential avenue for the wellness industry to provide expert-led meditation sessions to a wider audience.
Industry Implications
1. Wellness - The wellness industry can leverage the expansion of mindfulness apps like Simple Habit to provide innovative services and products that promote mental well-being and stress relief.
2. Technology - The technology industry can capitalize on the demand for audio-driven meditation content by developing and enhancing audio technologies that enhance the user experience of mindfulness apps.
3. Content Creation - The content creation industry can harness the trend of collaboration between meditation app developers and therapists/executive coaches to create and monetize high-quality meditation tracks and sessions for various mindfulness apps.