Wearables company Whoop raises $575m in Series G round

Whoop founder Will Ahmed and investor Niall Horan. Image: Whoop

The funding round saw participation from high-profile Irish names such as Niall Horan, Rory McIlroy and Shane Lowry.

Boston-headquartered wearables company Whoop has raised $575m in Series G funding at a $10.1bn valuation.

The funding will be used to advance its global expansion and “long-term vision for personalised health”, according to the company.

Whoop was founded in 2012 by CEO Will Ahmed. The company has developed a wearable fitness tracker and a platform that provides personalised health insights on parameters such as sleep quality, performance and fitness levels, and how daily behaviours such as training, nutrition and stress are impacting their performance and long-term health.

“Our raise brings together the world’s most sophisticated investors, leading health institutions, and iconic global athletes behind the mission to unlock human performance and healthspan,” said Ahmed. “We are building the personal health platform that people use to improve their health and livelihood.”

The funding round was led by Collaborative Fund and included global participation from a number of organisations such as 2PointZero Group, Qatar Investment Authority, Mubadala Investment Company, Abbott and Mayo Clinic.

Global healthcare giant Abbott has also joined as a strategic investor to Whoop.

“With a broad portfolio spanning diagnostics, medical devices, nutrition and generic medicines, Abbott brings deep healthcare expertise, scale and a track record of health-tech innovation, creating solutions that are more responsive, connected and personalised,” read a statement from Whoop. “Whoop and Abbott share a commitment to empowering people to take control of their health.”

The round also included participation from athletes and individual investors, including high-profile Irish names such as musician Niall Horan and golfers Rory McIlroy and Shane Lowry.

Other individual investors included athletes Cristiano Ronaldo, LeBron James and Virgil van Dijk.

“I am proud to participate in this round because I believe in the future we are building together,” said Ronaldo, who is also a Whoop global ambassador. “No other company has created a health platform this powerful that people are proud to wear.”

According to Whoop, the platform now has more than 2.5m members around the world and last year, the company operated “cash flow positive”.

Earlier this month, the company announced plans to create 600 jobs globally, including at its Ireland HQ in Limerick, which currently employs 150 people.

The company plans to hire across areas such as software, research and design, hardware, product, and marketing, with hiring primarily taking place at its Boston headquarters.

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