WHOOP Raises $200 Million at $3.6 Billion Valuation

WHOOP, the creator of an app-connected smart wearable strap that tracks fitness activities, providing performance metrics and other data, raised $200 million in a Series F funding round at a $3.6 billion valuation led by SoftBank Vision Fund 2.

Participating investors include IVP, Cavu Ventures, Thursday Ventures, GP Bullhound, Accomplice, NextView Ventures, and Animal Capital.

As part of the funding round, Ms. Bannon will also join the company’s Board of Directors.

Founded in 2012, WHOOP is based in Boston and has raised more than $400 million in venture capital. The company plans to use the new funds to invest in R&D, build future wearable technology, enter new markets, acquire technology companies to develop the membership offerings, and hire talent across engineering, data science, analytics, and more.

“We are thrilled to deepen our partnership with SoftBank as we grow internationally,” said Will Ahmed, WHOOP Founder, and CEO. “While we have experienced amazing growth in the past year, the potential of our technology and the vast market for health monitoring remains largely untapped.”

WHOOP offers a personalized digital fitness and health coach platform that helps people unlock their inner potential and make meaningful lifestyle changes via actionable feedback on sleep, recovery, and strain. The company’s membership includes hardware and a connected app designed to optimize behavior.

The company’s app-connected smart wearable strap tracks users’ heart rate variability, resting heart rate, respiratory rate, and sleep staging.

“WHOOP continues to experience tremendous user growth as they transform human performance, adding new features and products that are focused on enabling their users to lead healthier lives,” said Kristin Bannon, Investment Director at SoftBank Investment Advisers. “We are excited to continue our support of Will and the WHOOP team as they aim to improve health in the U.S. and expand internationally.”

Wearable Sensors companies raised $675 million in the first half of 2021, according to the latest Mercom Digital Health Funding and M&A Report.