PRODUCT NEWS
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| Thrive Global secures US$30m in Series B funding |
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| 14 Dec 2017 . BY Jane Kitchen |
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| Arianna Huffington launched Thrive Global last year / Thrive Global |
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Thrive Global, the wellness media and technology company founded only last year by Arianna Huffington, has raised US$30m in its Series B funding round.
The money will be used to “dramatically accelerate” its technology and product growth, and scale its impact around the world.
The round was led by IVP, a multi-billion dollar venture capital and growth equity firm that has also invested in Twitter, Snap and Slack. IVP general partner Somesh Dash, who led the investment, will be joining Thrive Global’s board of directors.
Thrive Global’s core components include a media platform dedicated to becoming a hub for the conversation around wellbeing and performance; corporate services, including live and digital workshops, e-courses and behaviour-change products; and a behaviour-change technology product suite.
“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,” said Huffington.
“Over the last year, we've worked with some of the biggest companies in the world – including Accenture, JPMorgan, SAP, Nestle, Hilton, Safaricom, Samsung and Alibaba – to refine our science-based behaviour change solutions.
"Now, with our Series B investment, we'll be able to productise our IP in order to reach tens of millions more people around the world, just as our culture has reached a tipping point.”
The company also plans to launch the Thrive App in January to help people create a healthier relationship with technology.
The new funding will allow Thrive Global to scale its growth by developing digital behaviour-change products for the enterprise and consumer markets, building out its connected ecosystem of digital products.
It will also invest in its video content production, and will continue its international expansion with new partnerships in China, Australia and the Middle East.
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