WHOOP Raises $100 Million In Series E Funding
Leader in Human Performance Valued at $1.2 Billion
BOSTON, Oct. 28, 2020 /PRNewswire/ -- WHOOP, the human performance company, has closed a $100 million Series E financing at a $1.2 billion valuation led by IVP. 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. Professional athletes investing include 2x NBA Finals MVP Kevin Durant (via ThirtyFive Ventures), 11x Pro Bowler Larry Fitzgerald, Super Bowl MVP Patrick Mahomes, 2x Super Bowl MVP Eli Manning, 4x Major Champion Rory McIlroy, and Major Champion Justin Thomas.
This new round of investment follows a period of tremendous growth for the WHOOP membership and overall business, and it will unlock new opportunities for the company. WHOOP will primarily invest these new funds in product and software development, global expansion, and membership services.
"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."
WHOOP is a monthly subscription for 24/7 health monitoring across sleep, recovery, strain, and more. The WHOOP membership includes free hardware (WHOOP Strap 3.0) and a coaching platform designed to optimize behavior. Studies show that after a year on WHOOP, members experience longer and more consistent sleep, improved physiology, enhanced physical performance, and meaningful lifestyle changes.
"WHOOP has built best-in-class wearable technology and an aspirational brand that have propelled the company to an impressive period of hypergrowth," said Eric Liaw, General Partner at IVP, who has joined the WHOOP Board of Directors. "We are excited to partner with a strong leadership team as WHOOP continues to revolutionize the market for human performance."
WHOOP has more than 330 employees, including over 200 new hires in 2020, and has raised more than $200 million to date. Visit whoop.com/locker to learn more about the Series E round and use of capital.
About WHOOP
WHOOP, the human performance company, provides a membership for 24/7 coaching to improve health. The WHOOP membership comes with free hardware (the new Whoop Strap 3.0), a coaching platform designed to optimize your behavior, and a community of high performers. WHOOP members range from professional athletes and Fortune 500 CEOs to fitness enthusiasts and endurance competitors to executives and military personnel. Studies show WHOOP can positively change behavior, increase sleep, and improve physiological biomarkers. Founded in 2012, WHOOP is based in Boston. Visit whoop.com for the latest company news and connect with WHOOP on Instagram, Twitter, Facebook, and YouTube.
About IVP
With $7 billion of committed capital, 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 one of the top-performing firms in the industry and has a 39-year IRR of 43.1%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. 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). For more information, visit www.ivp.com or follow IVP on Twitter: @ivp.
As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 ("SVF 2") in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.
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WHOOP
Alex Jacobs
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SOURCE WHOOP
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