Whoop, the Boston-primarily based health and fitness wearable firm well-liked with skilled athletes, lifted $200 million in funding on Monday, getting the most important standalone health overall performance startup in the earth, the company mentioned.
The offer, which values the business at $3.6 billion, was led by Japan’s SoftBank Vision Fund 2 and triples Whoop’s valuation from its earlier financing round in October 2020. The business has raised roughly $400 million to day.
The investment decision comes as the market place for physical fitness wearables has developed, and caught the interest of tech titans. Google closed its acquisition of Fitbit for $2.1 billion this 12 months. Apple is invested heavily in building the Apple Watch one particular of its marquee goods, its main govt Tim Prepare dinner explained this year.
Will Ahmed, the founder and chief government of Whoop, mentioned his organization has place to increase a lot far more. “While we have seasoned astounding progress in the previous year,” he stated in a assertion, “the likely of our technologies and the broad market for overall health checking remains largely untapped.”
Whoop was started in 2012 by Ahmed — a previous captain of Harvard University’s squash workforce searching to strengthen his workouts — and two classmates. The company sells a wrist strap that allows customers to track their snooze and work out habits through an app — allowing for athletes to increase their functionality.
Around the several years, the item has come to be well-known with qualified athletes which includes LeBron James, Michael Phelps, Patrick Mahomes, and Justin Thomas, the golfer. (The strap is an official health wearable merchandise for the NFL Gamers Association, Crossfit, and the Expert Golfing Association.)
With its most current funding, Whoop programs to greatly enhance its merchandise choices, increase internationally, and improve its partnership with qualified sports leagues, the corporation mentioned. In 2022, the corporation designs to go its world-wide headquarters to Kenmore Sq., where it can property 1,000 personnel. Now, Whoop employs about 500 people.