Endel adds Edgar Bronfman Jr. and Adam Arrigo to its Board along with raising $15m Series B funding led by Waverley Capital and True Ventures

– GERMANY, Berlin –  Endel, a sound wellness company, today announced it has raised a $15 million Series B round led by Waverley Capital and True Ventures.

Concurrent with the financing, Co-Founder, Chairman, and General Partner of Waverley Capital, Edgar Bronfman Jr., and CEO and co-founder of Wave, Adam Arrigo, joined the board.

With the funding raised, the team will scale the efforts to further develop its patented technology, improve the ecosystem of apps, and grow the catalog of personalized soundscapes.

In 2020, Endel announced it closed its $5 million Series A led by Kevin Rose of True Ventures, with participation from Supermoon Capitals, Techstars Ventures, Plus 8 Equity Partners, Waverley Capital, and Amazon Alexa Fund, Target Global, and various angel investors.

Endel’s award-winning patented technology creates science-backed, functional soundscapes that help people relax, focus, and sleep better. The technology takes inputs from the user’s movement, time of day, weather, heart rate, location, and other factors. It then uses AI to generate personalized soundscapes that adapt to changes in real-time.

“Anxiety and depression rates are at an all-time high, and we believe in the power of sound to deal with those problems,” said CEO and co-founder, Oleg Stavitsky. “People need new technology to help their bodies and brains adapt to the rapidly changing environment, and that’s what Endel does. From the very beginning, we worked to make wellness accessible by combining science, cutting-edge technology, and art, and this new investment is the next step towards our goal.

“Functional sound is a massive market that is growing daily,” said Edgar Bronfman Jr., Chairman, and General Partner at Waverley Capital. “With its unique patented technology, published and peer-reviewed scientific validation, and accessible products, Endel is uniquely positioned to own a large portion of this space. Endel’s award-winning apps, acclaimed world-class artist collaborations, and rapid growth are clear signs that they are on track to be the top of mind company in the health and wellness sound space.”

About Endel

Endel is a sound wellness company headquartered in Berlin. Founded by a collective of imaginative developers and artists, Endel is democratizing wellness by making it accessible to all. Endel runs a cross-platform ecosystem of AI-powered apps that create personalized, functional soundscapes to help people focus, relax, and sleep. Endel’s patented technology takes inputs from the user’s movement, time of day, weather, heart rate, location, and other factors. It then uses AI to generate personalized soundscapes that adapt to changes in real-time. Endel is available on iOS, Android, Mac, Amazon Alexa, album releases on DSPs, and now Apple TV. The ecosystem has over 1 million active users monthly, and they listen for a million and a half hours a month. Endel partnered with Mercedes-Benz Group Research, All Nippon Airways, Nura, Oura, and others. In 2020, Endel became the Apple Watch App of the Year and recently received a Google Play Best of 2021 award.

For more information: https://endel.io/

- DisclaimerNews, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.