Whoop Raises $200M at $3.6B Valuation
Whoop’s Human Performance Platform Continues Its Rapid Growth
Congratulations to Will Ahmed, John Capodilupo, and the entire Whoop team on their new $200 million Series F financing at a $3.6 billion valuation led by Softbank.
We previously wrote about Whoop’s last $100M Series E last October, highlighting our history with the team and their tenacity to achieve their vision of “unlocking human potential.” The Whoop band collects physiological data 24/7 and has been on our wrists at Promus Ventures for many years now. We hope it’s not hyperbole to state we could not live without it.
As evident by Whoop’s growth, more and more customers feel the same way. Elite athletes such as Patrick Mahomes, Rory McIlroy, Justin Thomas, Michael Phelps, and countless others religiously wear their Whoop to stay fit. Understanding daily strain and recovery through precise heart rate measurement is the cornerstone to responding to our bodies’ needs even when we don’t feel fatigued.
After four months, Whoop members on average reduce their resting heart rate by 4.4 beats per minute, increase heart rate variability by 8 milliseconds, sleep an additional 41 minutes per night, and experience injuries 60% less often. Moreover, the band’s ability to measure respiratory rate has been a life-saving measurement for many in helping detect early signs of COVID-19.
To support its growth, Whoop now has more than 500 employees, with 225 hires over the last twelve months. The Boston-based company plans to house more than 1,000 employees in its new Fenway Park headquarters by 2022. This new round of funding will help Whoop continue to build out its health platform as well as accelerate expansion into international markets.
We have a rule at Promus Ventures to only invest in companies whose vision we are equally passionate about. It is a privilege to have walked with this team since 2013 and watched them execute at a high level to change the lives of millions of people.
Promus Ventures invests in early-stage deep tech startups solving complex problems to advance everyday lives across the world. In addition to Whoop, some of Promus Ventures’ other leading portfolio investments include Rocket Lab (Nasdaq: RKLB), Spire (NYSE: SPIR), Mapbox, ICEYE, Bellabeat, Swift Navigation, AngelList, Behavox, Gauss Surgical, Figure Eight, Isotropic Systems, Halter, Cobalt, Safehub, and numerous others.
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