Wellness provider which offers online mindfulness training programs to employers and individuals, has raised $6.85 million in Series B funding in a round led by LFE Capital. New investors Fairground Capital and New Ground Ventures also participated, with funding from existing investors Bridge Builders Collaborative and One Earth Capital. The total included $4 million in new cash and $1.85 million in debt from a previous round that was converted into equity, bringing eMindful’s total funding to date at around $11 million.
The funding will be used to expand eMindful’s mobile platform, grow international business and develop new programs, the company’s CEO Kelley McCabe told Babyforyou.net.ua in an email.
eMindful offers online, live webinar-style classes that users access either on a mobile device, at home, or on their work computers (which can also be done in a group setting). Participants can hear, speak with and interact with instructors and other class participants, and classes range from stress management, weight loss, management of chronic conditions like diabetes and smoking cessation.
Along with the funding, LFE Capital's Managing Partner Leslie Frecon will join eMindful's board of directors to work on scaling up the company's offerings.
"LFE is excited to be partnering with Kelley and the eMindful team to take the business to the next level," Frecon said in a statement. "With mindfulness gaining widespread adoption, the quality and proven impact of the eMindful product create a compelling purchase proposition for coporations, healthcare providers and payers, and individuals."
In August, the company was tapped by health insurer Humana to provide mindfulness training program to employers. As more employers look to wellness programs, eMindful is seeking ways to get participants more engaged. In the next few months, eMindful will be launching its One Percent Challenge, encouraging program participants to practice mindfulness for 1 percent of each workday (around 14 minutes) over a 30 day period, and the company will in turn donate mindful minutes and cash to charities.