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Thrive Global Raises $30 Million to Empower People to Work Less and Sleep More

As a society, we’ve been conditioned to believe that success is directly correlated with the amount of time we spend working. However, this mentality can have severe consequences on our well-being and productivity. Arianna Huffington, founder of The Huffington Post and Uber board member, has taken it upon herself to challenge this status quo through her startup, Thrive Global.

A Corporate Mentality that Needs a Change

Huffington firmly believes that the corporate culture’s emphasis on burning the midnight oil is actually reducing productivity. By causing burnout, companies are not only harming their employees’ health but also their bottom line. In fact, lack of sleep could be costing the U.S. economy $411 billion per year.

Thrive Global: A Solution to the Problem

Last year, Huffington launched Thrive Global, a startup dedicated to reducing stress and improving wellness. By offering workshops and courses on work-life balance, Thrive is teaching companies like Accenture and J.P. Morgan the virtues of getting rest. The goal is to end the delusion that success requires burning out.

A Massive Market Opportunity

Thrive Global is not only a response to the growing concern about employee well-being but also a business opportunity. With a $30 million funding round led by IVP, Thrive Global is poised to scale its business globally. The startup’s valuation stands at $120 million, with participation from notable investors like Salesforce CEO Marc Benioff, entrepreneur Sean Parker, Lerer Hippeau Ventures, Greycroft Partners, and others.

A New Era of Wellness in the Workplace

Thrive Global makes its money through corporate clients who enlist its services for health and wellness education. The startup is also generating revenue through sponsorships and online content. Moreover, Thrive is rolling out an app in partnership with Samsung that aims to reduce the pressure to constantly check smartphones. The app allows users to set an away message during personal time, so that people aren’t expecting a response right away. It also gives feedback about how much time you’re spending on other apps.

IVP’s Investment: A Conviction for Change

IVP general partner Somesh Dash wrote in a blog post that they invested in Thrive because "in less than one year, Thrive has created a differentiated digital media property that is a one-stop shop for wellness content." He added that IVP also has "the conviction that the opportunity that Thrive is going after is one that will make the world a better place."

Huffington’s Vision: A Future with More Rest and Less Stress

Arianna Huffington plans to use the new funding for hiring, particularly talented female engineers. With the growth of Thrive Global, Huffington aims to change the way we work and live. By promoting wellness and reducing stress, Thrive is not only benefiting its clients but also contributing to a healthier society.

Key Takeaways

  • The corporate culture’s emphasis on burning the midnight oil can have severe consequences on productivity and employee well-being.
  • Lack of sleep could be costing the U.S. economy $411 billion per year.
  • Thrive Global is a startup dedicated to reducing stress and improving wellness through workshops, courses, and online content.
  • The startup has raised a $30 million funding round at a $120 million valuation with participation from notable investors.
  • Thrive Global’s app aims to reduce the pressure to constantly check smartphones and promote healthy work-life balance.

Conclusion

Thrive Global is revolutionizing the way we think about work and well-being. By promoting wellness and reducing stress, the startup is contributing to a healthier society. With its $30 million funding round and growing global presence, Thrive Global is poised to make a significant impact on the world.

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