Founders Fund and A.Capital lead capital raise showing growth trend of innovations in access to mindfulness, the importance of mental health and social connectedness for the future of wellbeing
LOS ANGELES, Oct. 20, 2021 /PRNewswire/ -- Today, mindfulness studio Open announced the close of a $9M Series A investment round, building on a $5.5M Seed round for a total of $14.5M fundraise. Led by existing investor Founders Fund and A.Capital Ventures, this capital raise also includes participation from Susa Ventures, Aglaé Ventures, backed by Groupe Arnault, as well as a roster of prominent CEOs in consumer technology such as Twitter and DoorDash, among others. Founders Fund and A.Capital have made their first investments in the space by betting on mindfulness with Open—a revolutionary approach to making the practice of wellbeing accessible to all.
Open is a mindfulness studio offering experiences that combine breathwork, meditation, yoga, Pilates, and more to support transformation and personal development. Since launching in 2020, Open set out to build an ecosystem to meet people where they are at—anywhere, anytime, any level, on or offline. Their approach bridges ancient wisdom and modern science, guided by expert teachers, and supported by proprietary technology. Classes are designed to engage the senses and regulate the nervous system to effectively reach a meditative state that many find elusive. Breathwork techniques are woven into each experience to strengthen the mind body connection through mental and physical training.
Open's mission is simple: be present, together. The studio delivers the most immersive audio and visual experience for livestream, on demand and in person classes, designing digital and physical spaces to facilitate community and presence for all levels. Practicing together is core to Open's ethos. The team prioritizes development of features to connect users and teachers, such as in-class live chats, groups of friends, synchronous meditation and breathwork sessions, the ability to turn on your camera and view others while practicing—all to encourage presence through connection. To create broader access, Open offers free guest passes; subscribers can (virtually) bring friends to classes in a group by sending a link. Open offers in person classes at their studio in Venice, facilitating presence, together.
Open curates and creates music for each practice as a sonic guide to break down perceived barriers around meditation. By partnering with record labels, cultural curators, and artists such as Moses Sumney, UMI, Ólafur Arnalds, Perfume Genius, and more, Open invites the uninitiated to discover the benefits of mindfulness by bridging popular culture and practice. The result is dynamic experiences that inspire a more holistic approach to wellbeing.
"Open exists to make collective wellbeing an accessible reality. We envision a world where everyone, everywhere, Opens everyday. We are inspired by the opportunity to make an impact and proud to be partnering with investors who not only believe in our vision, but can help us realize it," says Raed Khawaja, Co-Founder and CEO of Open.
Open has built a loyal, fast growing community of people seeking to deepen connection to themselves and others—they have supported over 80,000 shared practices, and users' solo practices have grown 42% for the past six months. It's not just Open's community that recognizes the gap they're filling in the industry, the company has secured funding from leaders such as Twitter Co-founder and CEO Jack Dorsey and DoorDash Co-founder and CEO Tony Xu, innovators at the intersection of technology and social connection. Institutional investors at firms focused on revolutionary ideas include SV Angel, Coatue, Maveron, Quiet Capital, Brainchild, and Slow Ventures.
Keith Rabois, General Partner at Founders Fund, legendary early stage investor in companies like Doordash, AirBnb, LinkedIn, Yelp, Lyft, YouTube, Eventbrite, Quora and more, shares, "Like many people, I'm constantly looking for opportunities to optimize my health. While countless solutions exist to improve your diet, exercise, or sleep, Open is the first fully integrated and accessible way for anyone to access the benefits of breathwork." Rabois continues, "The pandemic forced a shift from in-person classes to digital experiences practically overnight. Open built a platform to serve its early users at a critical time of need, demonstrating both the caliber of the team and how much their vision resonates with its community. Open is poised to bring the transformative power of breathwork to more people in more places in the future. I'm looking forward to seeing the positive impact this platform will bring to the masses."
Open subscriptions are offered at $20 a month for unlimited access to digital classes. Scholarships are provided to those who need support. To learn more about Open and their upcoming initiatives, please visit o-p-e-n.com for more information.
Open is a mindfulness studio for everyone. A place to come to your senses—meditation, music, breathwork, and movement awaken body and mind to bring you to the present moment. Bringing together a community of practitioners, we design artful classes, spaces, and content that promote the power of direct experience. We envision a world where everyone, everywhere, Opens everyday.
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