Whoop, the fitness tracking wearable company, has successfully closed a $575 million Series G funding round, catapulting its valuation to $10.1 billion, nearly tripling its previous valuation of $3.6 billion. This funding round saw a diverse group of investors, including sovereign wealth funds, major health institutions, and renowned athletes such as Cristiano Ronaldo and LeBron James.
The funding was led by Collaborative Fund and saw participation from entities like Mubadala Investment Company, Qatar Investment Authority, and other notable names in the investment world. Noteworthy individual investors also joined the round, with high-profile athletes like Rory McIlroy and celebrities like Niall Horan contributing to the funding.
Since its inception, Whoop has amassed approximately $900 million in total funding. One significant addition to its list of backers is Abbott, a major player in the medical device industry, indicating a strategic move towards enhancing health and medical capabilities within Whoop’s offerings.
Whoop plans to allocate the raised capital towards key areas such as talent acquisition, marketing initiatives, research and development efforts, and accelerating its global expansion. The company’s recent financial achievements and strategic partnerships position it for further growth and innovation in the fitness tracking market.
Source: TechCrunch