The round was led by Initialized Capital with participation from Y Combinator, Lombardstreet Ventures, Switch Ventures, Moonfire Ventures, Scrum Ventures, 8vdx and Goodwater.

Stellar Sleep offers the first digital solution for chronic insomnia management. 25 million Americans suffer from chronic insomnia, defined as sleep problems 3+ nights a week for 3+ months. Superficial approaches such as meditation or melatonin don't help with chronic insomnia, which is typically rooted in deeper psychological challenges. Stellar Sleep was founded by two chronic insomnia sufferers who grew frustrated with the lack of resources available to address their condition. The app is grounded in Cognitive Behavioral Therapy (CBT), and in a clinical assessment of 500 users, Stellar Sleep was 50 percent more effective than sleeping pills.