Endel raised $15 million in Series B funding led by Waverley Capital and True Ventures

Endel, a Berlin, Germany-based startup building a consumer mobile app designed to generate personalized and adaptive sound environments, raised series B round closed at $15 million.

The money was raised from investors led by US venture companies Waverley Capital and True Ventures. The proceeds will be used to scale the efforts to further develop its technology, improve the ecosystem of apps, and grow the catalog of Endel’s personalized soundscapes.

Co-Founder, chairman, and general partner of Waverley Capital, Edgar Bronfman Jr., and CEO and co-founder of Wave, Adam Arrigo, joined True Ventures Partner Kevin Rose on Endel’s board.

Endel, founded in 2017 by CEO Oleg Stavitsky, Dmitry Evgrafov and Kirill Bulatsev, developed a cross-platform audio ecosystem used for creating personalized, sound-based, adaptive environments that help people focus and relax. The company's application uses a core algorithm based on circadian rhythms, pentatonic scale, and sound masking while adapting to different inputs like time of day, weather, heart rate, and location. Endel's technology is already presented as an ecosystem of products (iOS, macOS, Android apps, Alexa Skill, a standalone Apple Watch app + tvOS app coming soon) and also designed to be integrated into various hardware and platforms in mobility, hospitality, and workspaces. The company makes money by charging an annual subscription fee.

Endel says it handles over 1 million monthly active users, and more than 1.5 million monthly listening hours, with partners including with Oura, Mercedes-Benz Group Research, All Nippon Airways and Nura.

Prior to this round, Endel was part of one of Techstars accelerators and raised $6.3 million from investors, with a $5 million series A backed by SleepScore Ventures, Techstars Ventures, Impulse Ventures, Plus 8 Equity Partners, Waverley Capital, Amazon Alexa Fund, and Target Global in 2020.