Boston-based WHOOP, a wearable fitness tech brand, has closed a $100M Series E financing at a $1.2B valuation, led by IVP. Participating investors include SoftBank Vision Fund 2, Accomplice, Two Sigma Ventures, Collaborative Fund, Thursday Ventures, Nextview Ventures, Promus Ventures, Cavu Ventures and D20 Capital. Pro athletes investing include Chiefs QB Patrick Mahomes, Nets F Kevin Durant (via ThirtyFive Ventures), Cardinals WR Larry Fitzgerald, former NFLer Eli Manning and golfers Rory McIlroy and Justin Thomas. The new round of investment follows a dramatic period of growth for the WHOOP membership and overall business. WHOOP will primarily invest these new funds in product and software development, global expansion and membership services. Founded in '12, WHOOP has more than 330 employees, including more than 200 new hires in '20, and has raised more than $200M to date. The brand offers a monthly subscription for 24/7 health monitoring across sleep, recovery, strain and more. The WHOOP membership includes free hardware (WHOOP Strap 3.0) and a coaching platform.
WHAT THEY'RE SAYING: "We will continue to make WHOOP the best product experience for measuring and improving health," said WHOOP Founder & CEO Will Ahmed. "WHOOP has built best-in-class wearable technology and an aspirational brand that have propelled the company to an impressive period of hypergrowth," said IVP General Partner Eric Liaw, who has joined the WHOOP Board of Directors. Mahomes said in a statement, "WHOOP has played a key role in my success both on and off the field. Human performance is a new category at the intersection of sports and technology and WHOOP is the clear leader in this space."
