Whoop, the Boston based sports-tech company which makes wearables and health technology products has bagged $55 million as part of its Series D round financing. Foundry Group is leading the current round with participation from Two Sigma Ventures, Accomplice, Thursday Ventures, Promus Ventures, Silicon Valley Bank. The round also saw capital infusion from angel investor Netflix cofounder and former CEO Marc Randolf along with a few more angels.
Prior to this round, the firm had picked up $25 million in its Series C funding round in March last year when UAE71 Capital had infused the amount. The current infusion takes the total amount raised by the firm to over $100 million ($104.8 Million). While the firm has not disclosed its valuation, it maintains that the valuation of the firm is in a healthy state.
Launched in 2011 by Aurelian Nicolae, John Capodilupo, and Will Ahmed, The firm makes sensor-equipped (and screen-free) strap which can track the activity of an athlete 24X7 in order to deliver a multitude of performance metrics and other data.
The firm plans to utilize the funds to expand its business with the launch of a wider range of wearables and analytics devices. Whoop founder and CEO Will Ahmed talking about the expansion plans noted that “We will continue to grow our membership globally and make Whoop the best experience for our members. Human performance is a new category and Whoop has emerged as both the pioneer and the market leader.”
With big players like Google who through the acquisition of Fitbit wants to enter the market along with the mighty Apple thinking of entering the sports tech domain, the capital infusion might have just come in the perfect time for Whoop. Interesting to see how the journey for Whoop goes from here.
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