-59%

est. 2Y upside i

HealthcareSeries C

Meditation and mental wellness platform with enterprise solutions

Rank

#4141

Sector

Consumer Health / Wellness SaaS

Est. Liquidity

~4Y

Data Quality

Data: Medium

Calm's -24% revenue decline is a severe warning.

Last updated: March 21, 2026

Bull (15%)+100%

B2B Calm Health succeeds; $300M+ rev. Acquired by health insurer or tech platform.

Base (45%)-20%

Revenue stabilizes at $200M. Acquired at 3-4x (~$600-800M). Below $2B peak.

Bear (40%)-55%

Consumer app churn continues; Lyra/Spring dominate B2B. Below $442M funding.

Est. time to liquidity~4.0 years
Adjusted for competitive dynamics: -26% (raw: -59%, adjustment: -10%)

Preference Stack Risk

high

Funding Intensity

22%

$442M raised; sub-$800M exit = nothing for common.

Dilution Risk

high

Down round likely given revenue decline.

Secondary Liquidity

limited

EquityZen/Forge at implied $1.5-3.5B range.

Other — 3 roles

View all 3 open roles at Calm →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Calm's data — designed to show you've done your homework.

  • 1

    “Revenue stabilization plan?”

  • 2

    “Calm Health B2B traction?”

  • 3

    “409A vs $2B peak?”

Cluster Peers

Expected Upside

Lyra Health
+12%
Spring Health
-36%
Calm
-59%
Cerebral
-84%

Community

Valuation Sentiment

Our model estimates -59% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.