Whoop Funding Boosts IPO Prospect
Whoop funding raised $575 million to accelerate global expansion and R&D and to ready the company toward IPO as investors watch membership and bookings.
KEY TAKEAWAYS
- Closed a $575 million Series G at a $10.1 billion post-money valuation.
- Reported a $1.1 billion bookings run rate, 2.5 million members, and cash-flow positive results in 2025.
- Positioned the financing as a step toward an eventual IPO and global expansion.
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Whoop announced on March 31, 2026, that it raised $575 million in a Series G funding round to support U.S. expansion, international growth, and product development as it prepares for a future IPO, the company said in a press release.
Series G Financing and Business Scale
Whoop closed its Series G round at a $10.1 billion post-money valuation, bringing total capital raised since 2012 to about $900 million. Collaborative Fund led the round, which included sovereign wealth funds, strategic health investors, venture capital firms, and individual athlete backers. Participants named in the press release included 2PointZero Group, Qatar Investment Authority, Mubadala Investment Company, Abbott, the Mayo Clinic, Macquarie Capital, Glade Brook, B-Flexion, IVP, Foundry, Accomplice, Affinity Partners, Promus Ventures, Bullhound Capital, and athletes such as LeBron James, Cristiano Ronaldo, and Rory McIlroy. Will Ahmed, Whoop’s founder and chief executive, said, "Our raise brings together the world’s most sophisticated investors, leading health institutions, and iconic global athletes behind the mission to unlock human performance and healthspan."
At the end of 2025, Whoop reported more than 2.5 million members, a bookings run rate of $1.1 billion, and 103% year-over-year bookings growth. The company was cash-flow positive in 2025, with roughly 60% of new sales coming from outside the U.S., up from about 30% four years earlier. The bookings figure reflects cash flows from hardware and subscription sales rather than a pure software subscription model, a distinction executives have emphasized as they position the business for capital markets scrutiny.
Whoop offers a subscription service priced between $199 and $359 per year, paired with a free, screenless wearable designed for continuous 24/7 use with an approximately 14-day battery. The device and platform track sleep, recovery, strain, fitness, and longevity metrics. The product set includes an FDA-cleared ECG feature, blood-pressure and blood-biomarker monitoring, and generative AI coaching to personalize guidance for members.
Use of Proceeds and IPO Plans
The company said the new capital will accelerate U.S. growth and international expansion across Europe, the Gulf Cooperation Council, Latin America, and Asia. It will also fund research and development of additional health and medical features, support hiring and marketing efforts, and strengthen the balance sheet. Whoop plans to increase its headcount to roughly 1,400 from about 800.
Executives described the financing as a step toward preparing for a public listing but have not announced a filing timeline. The involvement of major health institutions like Abbott and the Mayo Clinic was presented as part of a medical research and product development push. The company noted its FDA-cleared ECG feature but did not disclose any new regulatory approvals or acquisitions at the time of the financing. Management framed the capital infusion as both a strategic endorsement and a buffer to support international scaling and continued product development as the company readies for public markets.
