Whoop, the US-based developer of a wearable health tracker, has raised $100m from investors including telecommunications and internet group SoftBank’s Vision Fund at a $1.2bn valuation, Bloomberg reported yesterday.
IVP, Two Sigma Ventures, Accomplice, Collaborative Fund, Thursday Ventures, NextView Ventures, Promus Ventures, Cavu Ventures and D20 Capital also took part in the round, as did Thirty Five Ventures, the investment vehicle for basketball professional Kevin Durant.
The round was filled out by former hedge fund manager Mike Novogratz and athletes including Eli Manning, Larry Fitzgerald, Patrick Mahomes, Rory McIlroy and Justin Thomas.
Whoop has created a lightweight and waterproof wearable strap that provides detailed data on users’ fitness, sleep and physical recovery in addition to personalised coaching through a subscription service.
The funding has been earmarked for expanding Whoop’s marketing efforts in countries such as France, Germany, Spain and Australia, in addition to increasing headcount and strengthening its technology, founder and CEO Will Ahmed told Bloomberg.
Formed within Harvard Innovation Lab in 2011, the company closed a $12m series B round in 2015 when Infosys added $3m to funding from Two Sigma Ventures, Mousse Partners, Accomplice, Promus Ventures, Valley Oak Investments and NextView Ventures, taking its total funding to $24m.
UAE71 Capital led Whoop’s $25m series C round in early 2018, investing with National Football League Players Association, Thirty Five Ventures predecessor Durant Company, Thursday Ventures, Two Sigma Ventures, Accomplice, Mousse Partners, Promus Ventures and NextView Ventures.
The company secured a further $55m in a November 2019 series D round led by Foundry Group and backed by Two Sigma Ventures, Accomplice, Thursday Ventures, Promus Ventures, Silicon Valley Bank and multiple individuals.
Photo courtesy of Whoop.
