Whoop's Valuation Triples to $10 Billion in $575 Million Funding Round

Whoop, the fitness and health tracking wearable company, has closed a $575 million Series G funding round at a $10.1 billion valuation — nearly triple its last reported valuation of $3.6 billion — in a deal that brings together sovereign wealth funds, major health institutions, and some of the world's most recognizable athletes.

The funding round was led by Collaborative Fund and includes participation from several prominent investors.

The round was led by Collaborative Fund and includes participation from Mubadala Investment Company, Qatar Investment Authority, 2PointZero Group, Abbott, Mayo Clinic, Macquarie Capital, IVP, Foundry Group, Accomplice, Affinity Partners, Glade Brook, B-Flexion, Promus Ventures, and Bullhound Capital. Individual investors include Cristiano Ronaldo, LeBron James, Rory McIlroy, Reggie Miller, and Niall Horan, among other prominent athletes and celebrities.

• Whoop has now raised roughly $900 million in total since its founding.
• The company has exited last year at a $1.1 billion bookings run rate, up 103% year over year.
• The funding arrives as Whoop hits some major business milestones, including a push into health and medical capabilities.

The partnership signals a broader push into health and medical capabilities, though Whoop founder and CEO Will Ahmed noted there is "more to come" on that specific announcement.

The funding will be used for talent and hiring, marketing and brand awareness, and continued R&D investment, along with accelerating international expansion.

• Ahmed pointed to talent and hiring, marketing and brand awareness, and continued R&D investment, along with accelerating international expansion.
• The company is doing "a lot of the no-regrets work to be a public company" but stopped short of signaling any imminent plans to list.

Given that Whoop is a consumer brand with major name recognition among health-conscious and performance-oriented users, it's the kind of company that could generate real retail investor enthusiasm whenever it does decide to make that move.

You can listen to our full conversation with Ahmed, where we also talked about the company's earliest days, its massive hiring plans right now, and how Whoop is incorporating AI into its business.

Connie Loizos is the Editor in Chief & General Manager of TechCrunch.