Fitness tracker startup Whoop said it had raised $200m funding led by SoftBank’s Vision Fund 2, valuing the company at $3.6bn.
The company said it would primarily use the new capital to invest in research and product development, international expansion and membership offerings.
The funding round also included venture capital firms IVP, Cavu Ventures, Thursday Ventures and tech investment bank GP Bullhound.
Founded in 2012 by Will Ahmed, Whoop offers a monthly subscription for round-the-clock health monitoring through a free fitness band it provides with the membership.
Subscribe to our Newsletter to increase your edge. Don’t worry about the news anymore, through our newsletter you’ll receive weekly access to what is happening. Join 120,000 other PE professionals today.
Ahmed last year said customers were increasingly using its tracker technology to measure their respiratory rate, a key statistic for understanding COVID-19.
The company’s tracker is the fitness band of choice for athletes including golfer Justin Thomas, Kansas City Chiefs quarterback Patrick Mahomes.
Boston-based Whoop said it has raised nearly $400m till date.
Source: US News
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...