Total amount raised
$105 Millions
Latest funding date
2/1/2024
Location
Hallow has successfully raised over $100 million across multiple funding rounds, with its latest being a Series C. The app is designed to help users deepen their relationship with God through prayer, meditation, and sleep aids.
Keep reading to explore the intricacies of Hallow's fundraising journey and the investors backing this innovative platform.
What Is Hallow?
Hallow, founded in 2018, is a Chicago-based company offering a Catholic prayer and meditation app. The app aims to help users grow closer to God through various guided prayer and meditation services.
Founded by Alessandro DiSanto, Alex Jones, and Erich Kerekes, Hallow has quickly become a popular tool for spiritual growth. The app features services like the Pray40 Challenge, Daily Gospel Reflections, and Night Prayer from the Liturgy of the Hours.
With a team of 101-250 employees, Hallow continues to expand its offerings, providing users with a comprehensive platform for their spiritual needs.
How Much Funding Has Hallow Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2019
- Lead Investors: Contrary
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the app and validate the market need.
- Seed Round
- Amount Raised: $3M
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the app's features.
- Series A
- Amount Raised: $12M
- Date: April 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase user acquisition.
- Series B
- Amount Raised: $40M
- Date: November 2021
- Lead Investors: Drive Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and enhance app functionality.
- Series C
- Amount Raised: $50M
- Date: May 2023
- Lead Investors: Goodwater Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire new talent and continue growing the platform.
- Series C (Extension)
- Amount Raised: Not publicly disclosed
- Date: February 2024
- Lead Investors: Alumni Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand into international markets and comply with new regulations.
Total Amount Raised: $105M. Current Valuation: Not publicly disclosed.
Key Investors
- Alumni Ventures
- Details: Alumni Ventures is a venture capital firm that invests in high-growth startups. They leverage a network of alumni from top universities to identify and support promising companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm focused on consumer technology companies. They aim to support startups that have the potential to become household names.
- Investment Focus Areas: Consumer technology, fintech, digital health.
- Notable Investments: Spotify, Chegg, Stash.
- Drive Capital
- Details: Drive Capital is a venture capital firm that invests in innovative companies in the Midwest. They focus on long-term partnerships with entrepreneurs.
- Investment Focus Areas: Technology, healthcare, agriculture.
- Notable Investments: Root Insurance, Olive, Duolingo.
- General Catalyst
- Details: General Catalyst is a venture capital firm that provides early-stage and growth equity investments. They support companies that have the potential to transform industries.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Airbnb, Stripe, Snap.
- Contrary
- Details: Contrary is a venture capital firm that invests in early-stage technology companies. They focus on identifying and supporting the next generation of tech leaders.
- Investment Focus Areas: Technology, software, artificial intelligence.
- Notable Investments: Not publicly disclosed.
What's Next for Hallow?
Hallow's recent $50 million Series C funding round opens up significant opportunities for growth. With over 10 million downloads and 225 million prayers globally, the app is poised to expand its user base through strategic partnerships with celebrities and faith leaders. This visibility can further enhance its credibility and reach within the Catholic community and beyond.
Future fundraising opportunities seem promising as the app continues to grow. Potential avenues include additional venture capital rounds or strategic investments from faith-based organizations. However, challenges such as competition in the app market and maintaining user engagement could pose hurdles. Balancing technological advancements with the app's spiritual mission will be crucial for sustained success.
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