Total amount raised
$145.9 Millions
Latest funding date
07/01/2021
Location
Thrive Global has successfully raised funds through multiple rounds, with the latest being a Series C round closed on July 8, 2021. The company is backed by 34 investors, including notable names like Owl Ventures and IVP.
Keep reading to explore the intricacies of Thrive Global's fundraising journey and the investors backing this innovative platform.
What Is Thrive Global?
Thrive Global, founded in 2016 by Arianna Huffington, is headquartered in New York, New York. The company focuses on enhancing productivity and well-being through behavior change technology.
With a team of 501-1000 employees, Thrive Global offers science-based solutions to improve mental and physical well-being, performance, and our relationship with technology. Their platform integrates with tools like Microsoft Teams and Slack.
Thrive Global's mission is to combat burnout and promote a thriving culture within organizations, providing tools for behavior change, leadership training, and stress management.
How Much Funding Has Thrive Global Raised?
- Series A
- Amount Raised: $11.5M
- Date: August 2016
- Lead Investors: Lerer Hippeau
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and establish the company’s initial product offerings and market presence.
- Series B
- Amount Raised: $31.7M
- Date: November 2017
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company’s product line and increase market penetration.
- Series B
- Amount Raised: $22.8M
- Date: May 2018
- Lead Investors: Jazz Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance technological capabilities.
- Series C
- Amount Raised: $80M
- Date: July 2021
- Lead Investors: Kleiner Perkins, Owl Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and impact, particularly in addressing the burnout epidemic and enhancing well-being and mental resilience.
Total Amount Raised: $146M. Current Valuation: Not publicly disclosed.
Key Investors
Here are the major investors in Thrive Global:
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm that has been investing in technology and life sciences companies since 1972. They have a history of backing some of the most successful tech startups.
- Investment Focus Areas: Technology, life sciences, high-growth industries.
- Notable Investments: Google, Amazon, Twitter.
- Owl Ventures
- Details: Owl Ventures is a venture capital firm that focuses exclusively on education technology. They invest in companies that aim to improve education and learning outcomes.
- Investment Focus Areas: Education technology.
- Notable Investments: Byju's, MasterClass, Quizlet.
- Jazz Venture Partners
- Details: Jazz Venture Partners invests in companies that intersect technology and human performance. They focus on digital health and wellness.
- Investment Focus Areas: Human performance technology, digital health, wellness.
- Notable Investments: Halo Neuroscience, Muse, Pear Therapeutics.
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital firm that invests in rapidly-growing technology companies. They have been involved in some of the most significant tech IPOs.
- Investment Focus Areas: Later-stage growth companies in technology and media.
- Notable Investments: Slack, Snap, Twitter.
- Lerer Hippeau
- Details: Lerer Hippeau is an early-stage venture capital firm based in New York City. They invest across various sectors, including media, e-commerce, and technology.
- Investment Focus Areas: Early-stage companies, media, e-commerce, technology.
- Notable Investments: BuzzFeed, Casper, Warby Parker.
What's Next for Thrive Global?
Thrive Global stands at the cusp of significant growth opportunities, driven by its recent $80 million Series C funding. The company plans to expand its product, engineering, and design teams, and invest in AI and machine learning capabilities. This expansion aims to enhance their behavior change technology platform, which has already impacted employees at over 100 organizations in more than 40 countries.
Future fundraising opportunities seem promising as Thrive Global continues to scale its operations and integrate its solutions into partner offerings. The involvement of high-profile investors like Kleiner Perkins and Owl Ventures suggests potential for additional funding rounds to support further expansion and technological advancements.
However, Thrive Global may face challenges such as maintaining growth while scaling operations and competing with other companies in the digital health and wellness space. Ensuring the effectiveness and adoption of their solutions across diverse organizations will be crucial for sustained success.
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