Whoop, the fitness wearable startup favored by top athletes, just secured a massive $575 million funding round. That puts its valuation north of $10 billion, signaling a major leap for the Boston-based company.
Massive Funding Boost from Big Names
On Tuesday, Whoop announced it closed a $575 million Series G round, led by Collaborative Fund. The round brought in heavyweight institutional investors like Abbott Laboratories, Mayo Clinic, Qatar Investment Authority, and Mubadala Investment Company among others. Abbott and Mayo Clinic joining the funding round shows Whoop is moving beyond fitness gadgets into longevity and health management.
On top of that, sports superstars including Cristiano Ronaldo, LeBron James, Rory McIlroy, and Niall Horan also participated as individual investors. Their backing shows Whoop's strong foothold in the elite athlete community, where its screenless fitness bands have become a staple training tool.
From Fitness Tracker to Health Tech Powerhouse
Founded in 2012 by former Harvard squash captain Will Ahmed, Whoop started by offering a wristband that tracks recovery, strain, and sleep without the distractions of a typical smartwatch screen. Its device operates 24/7 to gather physiological data, helping users optimize performance based on personalized insights.
Lately, Whoop has added new products and features. The latest Whoop MG model won FDA clearance for medical-grade ECG and blood pressure monitoring, a big step toward integrating clinical health features.
Whoop uses AI coaching to customize training advice, combining fitness tracking with medical data.
Users pay annual fees between $150 and $360 under Whoop's subscription model. Some advanced features, like atrial fibrillation detection and detailed ECG readings, require higher-tier memberships. The company’s decision to include the device itself at no upfront cost lowers barriers to entry for customers.
Strong Growth and Market Position
Whoop now boasts 2.5 million members and reported a bookings run rate of $1.1 billion at the end of 2025, with year-over-year bookings doubling. The business is already operating cash flow positive, a rare feat for startups in this space. CEO Will Ahmed confirmed this $575 million round would likely be their last private funding before taking the company public.
Valued at $10.1 billion, Whoop edges ahead of several notable Boston tech companies, including Cargurus, Tripadvisor, Rapid7, and Progress Software combined. The fresh capital will fuel Whoop’s U.S. And international expansion and boost development of personalized health features.
Whoop also plans to hire more than 600 employees this year, mainly in Boston, reinforcing its role as a growing tech and health hub in the city. The company has stepped into a leadership role locally by promoting startup growth and AI innovation, hosting events with Massachusetts Governor Maura Healey and other tech leaders.
Regulatory Challenges and Market Outlook
Whoop has navigated some regulatory hurdles, notably over its blood pressure monitoring feature. Initially flagged by the FDA for lacking medical device approval, the agency later clarified that such wellness features may be exempt from strict medical device rules. This regulatory relief bodes well for Whoop’s ambitions to blend fitness tracking with clinical-grade health monitoring.
Even so, the wearable tech market is crowded. Competitors like Oura Health, maker of the Oura Ring, closed a $900 million round last year at an $11 billion valuation. Still, Whoop’s unique data-driven approach and subscription model set it apart.
Investors will be watching closely as Whoop prepares for its IPO. Investors and industry observers will want to see if Whoop can convert its strong growth and elite athlete endorsement into sustained mass-market appeal and profitability.
Valued at $10 billion and cash flow positive, Whoop is becoming a key player in wearable health tech. The upcoming IPO could mark a turning point for both the company and the broader fitness-tech sector.
