WHOOP Raises $575 Million at $10.1 Billion Valuation
On March 31, Boston-based health wearable company WHOOP announced the completion of a $575 million Series G funding round, valuing the company at $10.1 billion.
The round was led by Collaborative Fund, with participation from numerous investors including: 2PointZero Group, Qatar Investment Authority, Mubadala Investment Company, Abbott, Mayo Clinic, Macquarie Capital, and others.
Several celebrities also participated in this round, including: soccer star Cristiano Ronaldo, NBA star LeBron James, golf star Rory McIlroy, and singer and former One Direction member Niall Horan.
WHOOP raised $200 million in 2021 at a valuation of approximately $3.6 billion. Its valuation has now grown 180%, with total funding exceeding $950 million.
In a press release, WHOOP stated that the company is in an extraordinary growth phase with strong global momentum:
- Currently has over 2.5 million members worldwide;
- In 2025, bookings grew 103% year-over-year;
- In 2025, WHOOP achieved positive cash flow;
- Projected revenue of $1.1 billion in 2026.
Founder and CEO Will Ahmed revealed plans to file for an IPO within two years.
Will Ahmed is an Egyptian-American who grew up on Long Island, New York. He graduated from Harvard University, where he majored in political science and served as captain of the squash team. While at Harvard in 2012, he began developing a new wearable technology aimed at helping athletes quantify recovery and optimize performance.
WHOOP's first product was released in 2015. His strategy was to first sell the product to top sports teams and athletes, then expand to a broader consumer base, creating a "halo effect" for the brand. Today, many well-known athletes from soccer, basketball, tennis, F1, golf, swimming, cycling, and other sports are WHOOP users.
Above: Ferrari F1 driver Charles Leclerc wearing a Richard Mille watch on his left wrist, a WHOOP band and APM Monaco bracelet on his right.
WHOOP emphasizes a "screen-free, burden-free" experience and adopts a "band free + subscription" payment model: users do not pay for the WHOOP band but must purchase a subscription plan at the time of purchase (see below) and renew annually. The band has a battery life of up to 14 days, the longest on the market.
Will Ahmed revealed that 83% of monthly active users open the app daily, a rate second only to WhatsApp; each user opens the app more than eight times per day on average, nearly three times that of other screenless wearables.
In recent years, WHOOP has expanded from "hardcore" fitness enthusiasts to broader health monitoring features, with female users growing 150% in one year.
The band now monitors sleep, recovery, heart rate, and various other metrics around the clock. Last year's releases, including WHOOP 5.0 and WHOOP MG, feature ECG monitoring, atrial fibrillation detection, blood pressure analysis, and blood analysis. This data helps users identify early warning signs and reduce health risks. Founder Will Ahmed stated that "WHOOP Age" (the biological age derived from health data) is one of WHOOP's most popular features.
The official website shows that WHOOP manufactures in Mexico and China: products made in Mexico supply North America, while products for markets outside North America are manufactured by partners in China.
With this investment, WHOOP will further accelerate global expansion, driving growth in the U.S., Europe, Gulf states, Latin America, and Asia. The company's business now covers more than 60 countries and regions, with 60% of sales coming from outside the U.S.—compared to four years ago, when the U.S. market accounted for about 70% of its total membership.
Will Ahmed revealed that over the next year, the company will focus on marketing, brand building, innovation, R&D, and artificial intelligence. The company currently has nearly 800 full-time employees and plans to expand its workforce by 75% before a potential IPO, aiming to hire over 600 new positions globally this year.
｜Sources: Official press release, CNBC, Bloomberg
｜Image credits: WHOOP official website, official social media, CNBC screenshots