Whoop triples valuation to $10 billion after $575 million funding round

Whoop, a US-based fitness and health tracking wearable company, has raised $575 million in a Series G funding round. The round values the company at $10.1 billion. This marks a sharp increase from its previous valuation of $3.6 billion.

Funding backed by global investors and athletes

The round was led by Collaborative Fund. Several global investors participated, including Mubadala Investment Company and Qatar Investment Authority.

In addition, strategic and institutional investors such as Abbott and Mayo Clinic joined the round.

The company also attracted investments from well-known athletes. These include Cristiano Ronaldo, LeBron James, and Rory McIlroy.

With this round, Whoop’s total funding has reached approximately $900 million.

Focus on health capabilities and partnerships

One key development in this round is the participation of Abbott. The partnership indicates a possible expansion into medical and healthcare capabilities.

However, the company has not shared detailed plans yet. CEO Will Ahmed noted that further updates are expected in the future.

Business growth and performance metrics

The funding comes at a time when Whoop reports strong business growth. The company achieved a bookings run rate of $1.1 billion last year. This represents a 103% increase compared to the previous year.

According to Ahmed, bookings provide a clearer view of the company’s performance. This is because Whoop operates both hardware and subscription services. As a result, it manages inventory, device costs, and recurring revenue at the same time.

Capital allocation and expansion plans

The company plans to use the fresh capital across multiple areas. These include hiring, marketing, and research and development.

In addition, Whoop aims to expand its presence in international markets. Therefore, global growth is likely to remain a key focus area.

IPO outlook remains uncertain

The funding round also raises questions about a potential public listing. Competitor Oura is reportedly exploring an IPO.

However, Whoop has not confirmed any immediate plans. Ahmed stated that the company is preparing for the possibility of going public, but no timeline has been announced.

Outlook

Whoop continues to operate in the growing fitness and health tracking market. While the company has achieved strong valuation growth, its next phase will depend on execution across product development and global expansion.