NEW YORK, United States — Arianna Huffington’s Thrive Global has raised $30 million via a Series B funding round, with the aim to accelerate growth and scale its impact around the world.
The round was led by multi-billion dollar venture capital and growth equity firm IVP, which has investments in Twitter, Netflix, Mindbody and The Honest Company.
In its first year of operation, Thrive Global has established itself as an advocate for changing the thinking around stress and burnout. Offering science-based solutions to enhance wellbeing, productivity, performance and purpose, the startup currently works with companies including Accenture, Nestle, Hilton and J.P. Morgan.
Now, with fresh investment, the business plans to productize its IP in order to be able to reach tens of millions more people around the world.
“When we launched Thrive Global exactly a year ago, we set the ambitious goal to end the collective delusion that burnout is the necessary price we must pay for success,” explained Arianna Huffington, founder and CEO of Thrive Global.
“This great moment in our young company’s history is made possible by the hard work of the entire Thrive Global team, and we are now grateful to have IVP helping take Thrive Global to the next level,” she added.
With a plan to scale its growth by developing digital behaviour change products for the enterprise and consumer markets, Thrive Global says it will use its new cash injection to build out its connected ecosystem of digital products. In addition, it will develop its data, analytics and measurement capabilities to provide users with personalised behaviour-change interventions and demonstrate measurable ROI for corporations investing in employee wellbeing.
“More and more companies are realizing that there is a fundamental connection between their employees’ well-being and the bottom line,” Huffington told TechCrunch. There’s a “massive market opportunity” and Thrive can “change the world in the process,” she added.
Alongside its Behaviour Change division, Thrive Global will also be investing in its video content production to deliver digital content across a range of formats as it continues its international expansion with new partnerships in China, Australia and the Middle East.