SOFTBANK LATIN AMERICA FUND DOUBLES DOWN ON GLORIFY WITH INFUSION OF $40M IN SERIES B FUNDING

As the faith-based tech market continues to heat up, latest investment comes on heels of new report that shows 3 out of 5 consumers plan on turning to prayer as a way to manage their anxiety in 2022

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Glorify

Mar 08, 2022, 09:01 ET

LONDON, March 8, 2022 /PRNewswire/ -- Glorify, an app designed to help Christians strengthen their daily connection to God, today announced the closing of $40M in Series B funding led by SoftBank Latin America Fund. The company's new funding will be used to help Glorify roll out a series of new social prayer features designed to deliver an unparalleled user experience for Christians around the globe.

"People are searching for greater meaning in this time of unrest and uncertainty," said Henry Costa, co-founder and co-CEO of Glorify. "At Glorify, we believe that prayer has the power to help people fight anxiety, sleep better and support their overall wellbeing, and in the past few months, we've seen this in abundance. With these new funds, we will be able to further invest in product to help Glorify bring even more people together through faith and prayer."

In conjunction with the company's new funding, Glorify is also rolling out the results of an in-depth consumer study examining the state of prayer and how consumers are thinking about it as they head into 2022. The report, which chronicled answers from over 1000 consumers age 18-65 in the US, UK and Latin America, covers topics ranging from if prayer was a top priority for 2022, to what caused them anxiety in 2021 and how they plan on dealing with it; if there had been a change in their prayer routine since COVID-19, to how their daily quiet time with God might have changed in the past year.

Some of the key highlights from the report include:

Heading into 2022, over 50 percent of respondents shared that they are most anxious about their mental and physical health as well as global conflicts, above COVID-19, their finances and work. Respondents also stated that they are anxious due to a general uncertainty of what is yet to come.

64 percent of people stated they plan on turning to prayer and meditation, over exercise, to help them manage their anxiety around these issues in 2022.

Over 70 percent of people shared that since COVID-19, they prayed more.

1/3 of people said that carving out daily prayer time is a top priority for the year. They ranked this above their work/career and spending time with friends and family.

Respondents also noted that technology played a big part in their religious experience over the past year, with 35 percent of people stating they attended church mainly online and 53 percent of people sharing that they started using technology like mobile apps to enable their daily quiet time with God.

"Glorify has the potential of being absolutely huge," said Paulo Passoni, Managing Partner SoftBank Latin America Fund. "We have a strong conviction about the product and for what is yet to come. I have personally been using the product daily and have been really happy with the experience. Ed and Henry are truly exceptional founders."

Glorify currently serves over 2.2M users, who spend over 204M minutes of meditation and prayer daily on the platform. With over 20M Daily Worships completed, the app has also amassed 300,000 reviews, with users stating that the app helps them take the time to reconnect with their spirituality and has changed their daily routines for the better.

"Henry and I have created a product that means something to us personally," said Ed Beccle, co-founder and co-CEO of Glorify. "It is the strength of our collective perspective that has turned Glorify into a universal experience that speaks to Christians wherever they are in their journey of faith."

Over the past year, Glorify has captured the attention of top VC's, celebrity and tech investors. With this latest round, Glorify has raised $84.6M to date. For more information on Glorify, its community and framework for faith, as well as how to download the app for free on iOS or Android, please visit www.glorify-app.com

About Glorify

Glorify is an app designed to help Christians strengthen their daily connection with God. The company was Co-Founded in 2020 by Ed Beccle and Henry Costa. Henry, the son of Ken Costa, a veteran investment banker and Christian leader and who is also chairman of Glorify, understood the mass appeal of using technology to address the growing problem of anxiety and sleep, but believed there was room for something even more fulfilling from a Christian perspective. Knowing that many Christians had the desire to pray and create structure around their quiet time but often found themselves pressed for time or without the best resources at hand, they started Glorify, an app rooted in faith, to give Christians everywhere an easy path to creating a daily habit of connecting with God. Glorify was founded in 2020 and is headquartered in London, with offices around the globe.

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SOURCE Glorify