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August 30, 2021

WHOOP Raises $200 Million Financing Led by SoftBank Vision Fund 2 at $3.6 Billion Valuation

BOSTON, August 30, 2021 — WHOOP, the human performance company, today announced that it has raised $200 million in a Series F funding round at a $3.6 billion valuation led by SoftBank Vision Fund 2.* Participating investors include IVP, Cavu Ventures, Thursday Ventures, GP Bullhound, Accomplice, NextView Ventures, and Animal Capital.

WHOOP is now the most valuable standalone human performance company in the world. The past twelve months have been marked by rapid growth in WHOOP membership and additional product enhancements to its technology.

“We are thrilled to deepen our partnership with SoftBank as we grow internationally,” said Will Ahmed, WHOOP Founder and CEO. “While we have experienced amazing growth in the past year, the potential of our technology and the vast market for health monitoring remains largely untapped.”

WHOOP will use this new capital to:

  • Invest in research and development to build the future of wearable technology
  • Create enhancements across its suite of product, software, and analytics
  • Enter new markets through strategic international expansion
  • Acquire leading technology companies to evolve the membership offering
  • Expand hiring of best-in-class global talent across engineering, data science, analytics, and more
  • Play a larger role in professional sports and extend WHOOP Live to a greater audience, taking fan and athlete engagement to a new level through biometric data visualization

WHOOP is a personalized 24/7 digital fitness and health coach that helps people unlock their inner potential and make meaningful lifestyle changes via actionable feedback on sleep, recovery, and strain. The WHOOP membership includes free hardware and a platform designed to optimize behavior. WHOOP insights are grounded in industry-leading accuracy across measurements of key health indicators like heart rate variability, resting heart rate, respiratory rate, and sleep staging.

“WHOOP continues to experience tremendous user growth as they transform human performance, adding new features and products that are focused on enabling their users to lead healthier lives,” said Kristin Bannon, Investment Director at SoftBank Investment Advisers. “We are excited to continue our support of Will and the WHOOP team as they aim to improve health in the U.S. and expand internationally.”

As part of the funding round, Ms. Bannon will also join the WHOOP Board of Directors.

WHOOP has more than 500 employees with over 225 new hires in the past 12 months, and has raised approximately $400 million to date. In 2022, WHOOP will open offices around the world, including a new global headquarters in Boston, Massachusetts planning to house more than 1,000 team members on site.

Visit whoop.com to learn more about WHOOP and the Series F funding round.

About WHOOP

WHOOP, the human performance company, provides a membership for 24/7 coaching to improve health. The WHOOP membership comes with free hardware, a coaching platform designed to optimize your behavior, and a community of high performers. WHOOP members include professional athletes, Fortune 500 CEOs, fitness enthusiasts, military personnel, frontline workers and anyone looking to improve their performance. Studies show WHOOP can positively change behavior, increase sleep, and improve physiological biomarkers. Founded in 2012, WHOOP is based in Boston and has raised more than $400 million in venture capital. Visit whoop.com for the latest company news and connect with WHOOP on Instagram, Twitter, Facebook, and YouTube.

Media Contact:
WHOOP
Alex Jacobs
press@whoop.com

*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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