Whoop’s valuation just tripled to $10 billion

Whoop, a leader in the fitness and health tracking wearable sector, has successfully finalized a $575 million Series G funding round, elevating its valuation to $10.1 billion—an impressive increase from its previous valuation of $3.6 billion. This funding initiative received backing from sovereign wealth funds, significant health institutions, and renowned athletes from around the globe.

The funding round was spearheaded by Collaborative Fund, with contributions from various notable entities including Mubadala Investment Company, Qatar Investment Authority, 2PointZero Group, Abbott, Mayo Clinic, Macquarie Capital, IVP, Foundry Group, Accomplice, Affinity Partners, Glade Brook, B-Flexion, Promus Ventures, and Bullhound Capital. Noteworthy individual investors feature sports legends such as Cristiano Ronaldo, LeBron James, Rory McIlroy, Reggie Miller, and Niall Horan, among others.

Since its founding, Whoop has secured approximately $900 million in total funding. A strategic investor in this round is Abbott, a well-known medical device corporation, which underscores Whoop's aspiration to bolster its health-centric functionalities. The company's founder and CEO, Will Ahmed, has indicated that further announcements regarding developments are forthcoming.

With this latest influx of capital, Whoop has achieved significant business milestones, including reaching a $1.1 billion bookings run rate last year, representing a remarkable 103% year-on-year growth. Ahmed articulated the critical role of tracking bookings, as it provides valuable insights into the company's operational dynamics amidst robust hardware sales and an established subscription model.

Looking forward, this investment will enable Whoop to concentrate on talent acquisition, enhance its marketing and brand visibility, and pursue ongoing research and development as well as international growth. The prospect of an initial public offering (IPO) has garnered attention, especially as competitor Oura is reportedly in discussions to go public in the near future. Although Ahmed confirmed that preparations are underway for Whoop to transition to a public company, he refrained from providing specific details regarding the timeline for such plans.