itness tracking wristband startup, Whoop, has just raised $100 million in a Series E funding led by IVP, a California-based investment firm. The $100 millions bring Whoop to a valuation of $1.2 billion making it Boston’s ‘newest’ unicorn, that means a startup that is worth more than $1 billion.
"We will continue to make WHOOP the best product experience for measuring and improving health," said Will Ahmed, WHOOP Founder & CEO. "Human performance is a new category and WHOOP has emerged as both the pioneer and market leader. We're proud to partner with IVP and other prominent investors who share our vision."
The participating investors include SoftBank Vision Fund 2, Accomplice, Two Sigma Ventures, Collaborative Fund, Thursday Ventures, Nextview Ventures, Promus Ventures, Cavu Ventures, D20 Capital, and LionTree Partners as well as professional athletes such as Kevin Durant (via ThirtyFive Ventures), Larry Fitzgerald, Patrick Mahomes, Eli Manning, Rory McIlroy and Justin Thomas.
Fitness tracking wristband has gained popularity
Founded in 2012 by Will Ahmed and co-founders John Capodilupo and Aurelian Nicolae, Whoop has been developing fitness wristbands that are capable of measuring biomarkers and heart rates, improving sleep quality and changing disruptive behaviors.
Whoop offers a monthly subscription that costs $30. Within that subscription you get a free wristband and you have access to all the features on the Whoop App (that is available on Android and iOS).
The wristband is waterproof and it doesn’t just track your fitness activities, but it also measures your cardiovascular health during the day and during your sleep, if you choose so. Regarding the sleep, Whoop will give some useful information and insights about your sleep map, which can help you if you have issues with sleeping.
Whoop is intended to be used by everyone, but it’s incredibly useful to athletes and people who are practicing professional sports as it helps them regulate their activities and sleep in order to get to their full potential.
But even if you are not practicing a professional sport, you can still use it. If you practice a sport already, it can add more perspectives to your workouts.
“Our mission at WHOOP is to unlock human performance. When you choose to partner with us, we’ll do everything we can to help you find your inner potential.”
The Series E funding was led by IVP, a California-based investment firm. IVP is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 400 companies with 115 IPOs.
“IVP is a hard-working team of experienced investors who have advised a large number of technology executives over the past few decades. We are a dedicated group of investment professionals who specialize in later-stage company growth. Growth is our doctrine – we truly believe it’s the key catalyst that separates the ultimate winners from the rest of the pack.
We know that it takes persistence, experience, vision, and agility to achieve true greatness. Our firm works hard to help CEOs mitigate the daunting risks and challenges that inevitably appear during the rapid growth phases of a company’s life. We hope we get to be a part of your journey as a growth company.”, says the company’s site.
IVP investments include such notable companies as AppDynamics (CSCO), Coinbase, Compass, CrowdStrike (CRWD), Datadog (DDOG), Discord, Dropbox (DBX), GitHub (MSFT), Glossier, Grammarly, HashiCorp, Hims & Hers, HomeAway (AWAY), The Honest Company, Klarna, LegalZoom, Looker (GOOGL), Marketo (MKTO), MasterClass, Mindbody (Vista), MuleSoft (CRM), Netflix (NFLX), Personal Capital (Empower), Podium, Rubrik, Slack (WORK), Snap (SNAP), Supercell (Tencent), Tanium, TransferWise, Twitter (TWTR), UiPath, Yext (YEXT), ZenDesk (ZEN), ZipRecruiter, and Zynga (ZNGA).
Now they count Whoop amongst their investments.
What do you think about this? Have you ever used Whoop in your workout activities? What’s your experience with the wristband and the app?
Let us know in the comments.