Whoop, the fitness and health tracking wearable company, has closed a $575 million Series G funding round, achieving a valuation of $10.1 billion. This figure nearly triples its last reported valuation of $3.6 billion. The deal brings together sovereign wealth funds, major health institutions, and globally recognised athletes.
The funding was led by Collaborative Fund and includes participation from Mubadala Investment Company, Qatar Investment Authority, and medical device giant Abbott, among others. Individual investors include footballers Cristiano Ronaldo and Niall Horan, basketball star LeBron James, and golfer Rory McIlroy.
Business Milestones and Strategic Shift
Founder and CEO Will Ahmed stated the partnership with Abbott signals a broader push into health and medical capabilities, with "more to come" on specific announcements. The funding arrives as Whoop reports significant growth, having exited last year at a $1.1 billion bookings run rate, up 103% year over year.
Ahmed emphasised that bookings is the critical metric for the company, as it captures the complex cash dynamics of simultaneously managing global hardware shipments, inventory costs, and recurring subscription revenue.
Plans for Capital and IPO Speculation
Ahmed outlined that the new capital will be directed towards talent acquisition, marketing, continued research and development, and accelerating international expansion. When questioned about a potential Initial Public Offering (IPO), especially with rival Oura reportedly considering one, Ahmed said the company is doing "a lot of the no-regrets work to be a public company" but did not confirm any imminent listing plans.
The company, which has now raised roughly $900 million in total since its founding, is seen as a consumer brand with significant name recognition that could generate substantial retail investor interest whenever it decides to go public.