We typically meet founders at the seed stage, when they have a pretty good sense of the immediate work-to-be-done and also a vision statement for where the startup can go, but everything in-between those two is fuzzy by design. So it’s especially enjoyable to see the curve in-between the ‘start’ and the ‘success’ come into focus. And with Hallow, it’s been a fantastic journey to ride along as investors in their company.
Hallow, the leading Catholic prayer app, just announced its $50 million Series C to further drive growth and product enhancements. As the team writes in its own blog post about the round, the last year has been extraordinary for the company:
This Lent, Hallow was the first faith-based app to ever crack the top 10 apps in the App Store overall coming in at #3 – beating Netflix, Spotify, Instagram, Amazon, Tiktok, YouTube and so many more of the largest apps in the world. It took us almost two years from launching Hallow to get to 1 million prayers prayed in total on the app. This Lent we had over a million prayers prayed each day. We just crossed 225 million prayers prayed in total and, as of last week, now over 10 million downloads.
With a successful subscription model the Hallow story isn’t one of just usage but also of revenue, since a sustainable structure is required for them to continue delivering a quality product to their community (Hallow is structured as a Public Benefit Corporation so business and values are always aligned).