WHOOP gets $100M for wellness platform
Personal fitness and wellness platform WHOOP said Wednesday that it has closed a $100 million Series E financing led by IVP that values it at a $1.2 billion. The startup said the latest funding will be used for product and software development, global expansion and member services.
The startup offers a free wearable tracker, the WHOOP Strap 3.0, with a monthly subscription that starts at $30 and allows members to track fitness, sleep, recovery following workouts, and other wellness metrics.
Participating investors in its Series E funding included SoftBank Vision Fund 2, Accomplice, Two Sigma Ventures, Collaborative Fund, Thursday Ventures, Nextview Ventures, Promus Ventures, Cavu Ventures, D20 Capital and LionTree Partners. Professional athletes who invested include Kevin Durant (via Thirty Five Ventures), Larry Fitzgerald, Patrick Mahomes, Eli Manning, Rory McIlroy and Justin Thomas.
The company said it now has more than 330 employees, including over 200 people it hired this year. IWith the latest round, it has raised more than $204 million to date, according to Crunchbase data.
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The company says it leverages advances in data science and the proliferation of smart devices to enable consumers to share brand experience in real time. Several of the largest consumer goods brands are users of its technology, including including PepsiCo, Unilever and Procter & Gamble.
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