WHOOP health biometrics draw $100 million Series E financing round
Biometric fitness tracker company WHOOP announced a $100 million Series E financing round led by IVP, Yahoo! Sports reports.
The new investment, also funded by big league sports superstars Kevin Durant and Patrick Mahomes, will bring the company to an overall valuation of $1.2 billion.
WHOOP provides a subscription-based service paired with a wristband capable of tracking various biometric information.
These include respiratory rate, heart rate variability, and sleep quality, among others.
Commenting on the news of the new investment, WHOOP CEO Will Ahmed said the company will use the funds to invest in developing instructive and community features and international expansion.
Ahmed also said the firm will continue its hiring efforts, as the team has already grown from 130 to 200 employees over the last year alone.
WHOOP witnessed substantial growth during the pandemic, spearheaded by golfer Nick Watney using a WHOOP strap to recognize the early signs of COVID-19 infection, and is reported to be the first wearable used in vaccine trials.
Following the event, every golfer in the PGA Tour was provided with a WHOOP device to monitor their health conditions.
WHOOP was founded in 2012 in Boston, and gradually built his brand targeting professional athletes, but today, 60 percent of WHOOP users are recreational, according to the report.
Talking to Yahoo! Sports, Ahmed said he has been approached by different Special Purpose Acquisition Companies (SPAC) but the CEO said that at the moment, WHOOP wants to stay private as it focuses on continuing its growth.
“One day, WHOOP will be a publicly-traded company,” Ahmed concluded.
biometric data | biometrics | data collection | fitness tracking | funding | wearables | Whoop