Total amount raised
$102.8 Millions
Latest funding date
11/1/2019
Location
WHOOP has successfully raised significant capital through multiple funding rounds, with the latest being a Series F round. The company is backed by a diverse group of 36 investors, including Thursday Ventures and Sahin Boydas.
Keep reading to explore the intricacies of WHOOP's fundraising journey and the investors backing this innovative platform.
What Is WHOOP?
WHOOP, founded in 2012 by Aurelian Nicolae, John Capodilupo, and Will Ahmed, is based in Boston, Massachusetts. The company specializes in wearable fitness technology that tracks sleep, strain, and recovery to optimize athletic performance.
With a team of 501-1000 employees, WHOOP offers a performance optimization system that provides continuous insights into an athlete's physiological data. This helps in balancing training, reducing injuries, and predicting performance.
The WHOOP Strap 3.0 collects data 24/7, offering a detailed understanding of the body to help elite athletes and teams achieve their goals.
How Much Funding Has WHOOP Raised?
- Seed Round
- Amount Raised: $3M
- Date: July 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to develop the product and bring it to market.
- Convertible Note
- Amount Raised: $751K
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for early-stage development.
- Series A
- Amount Raised: $6M
- Date: June 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand the team.
- Series B
- Amount Raised: $15M
- Date: September 2015
- Lead Investors: Two Sigma Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series C
- Amount Raised: $25M
- Date: March 2018
- Lead Investors: UAE71 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development and expand into new markets.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: May 2018
- Lead Investors: Bose Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage strategic partnerships and enhance product offerings.
- Series D
- Amount Raised: $55M
- Date: November 2019
- Lead Investors: Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the customer base.
- Series E
- Amount Raised: $100M
- Date: October 2020
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand international presence.
- Series F
- Amount Raised: $200M
- Date: August 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $3.6B
- Motivation Behind the Round: To invest in R&D, expand hiring, and enter new markets.
Total Amount Raised: $404.75M. Current Valuation: $3.6B.
Key Investors
- SoftBank Vision Fund
- Details: A venture capital fund managed by SoftBank Group, focusing on technology-driven companies.
- Investment Focus Areas: Technology, AI, robotics, telecommunications, internet services.
- Notable Investments: Uber, WeWork, Slack, DoorDash.
- IVP (Institutional Venture Partners)
- Details: A later-stage venture capital firm that invests in high-growth technology and media companies.
- Investment Focus Areas: Technology, media, internet companies.
- Notable Investments: Twitter, Dropbox, Snap.
- Foundry Group
- Details: A venture capital firm focused on early-stage investments in technology companies.
- Investment Focus Areas: Technology, software, internet companies.
- Notable Investments: Fitbit, SendGrid, Zynga.
- Bose Ventures
- Details: The venture capital arm of Bose Corporation, investing in innovative technology companies.
- Investment Focus Areas: Audio technology, wellness, wearables.
- Notable Investments: Not publicly disclosed.
- UAE71 Capital
- Details: A venture capital firm based in the UAE, focusing on technology and innovation.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for WHOOP?
WHOOP is poised for significant growth, with opportunities in international expansion, advanced technology development, and strategic acquisitions. The $200 million Series F funding round, led by SoftBank Vision Fund 2, positions WHOOP to enhance its product suite and enter new markets, leveraging its $3.6 billion valuation.
Future fundraising seems likely as WHOOP continues to innovate and expand. The growing interest in fitness wearables and health monitoring technology could attract more investors, supporting further R&D and market penetration. However, challenges such as competition from established brands like Apple and Fitbit, and scaling operations globally, remain. Navigating these hurdles will be crucial for WHOOP's sustained success.
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