Whoop, a company known for its fitness and health tracking wearables, has raised $575 million in a Series G funding round, valuing it at $10.1 billion—almost three times its previous valuation of $3.6 billion. The deal involves sovereign wealth funds, leading health institutions, and famous athletes. The round was led by Collaborative Fund and saw participation from 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. Notable individual investors include Cristiano Ronaldo, LeBron James, Rory McIlroy, Reggie Miller, and Niall Horan.
In total, the company has raised approximately $900 million since its inception. A significant new player on the cap table is the medical device giant Abbott, signaling Whoop’s broader move into health and medical fields, as noted by founder and CEO Will Ahmed.
The funding comes on the back of major business achievements for Whoop. Ahmed mentioned the company ended last year with a $1.1 billion bookings run rate, a 103% increase year-over-year. He emphasized why bookings is an essential metric, given the complexity of a business that combines hardware shipments and a subscription model.
With the new funds, Ahmed plans to focus on talent acquisition, marketing, brand awareness, further R&D investment, and accelerating global expansion.
As speculation around a potential IPO grows, Ahmed stated that the company is preparing to operate as a public entity but did not confirm any immediate plans to go public. Considering Whoop’s strong consumer brand presence, an IPO could attract considerable interest from retail investors whenever it occurs. For now, the company has more capital for growth.
For a comprehensive discussion with Ahmed about Whoop’s journey, expansion plans, and integration of AI, you can listen to the full conversation. Alternatively, more information on Whoop’s healthcare initiatives is available.