Dive Brief:
- Whoop, the wearable company that sparked a debate on wellness regulations, has raised $575 million.
- The series G round values Whoop at $10.1 billion, the company said on Tuesday. Abbott joined as a strategic investor.
- Whoop plans to put the funds toward its U.S. and international growth, as well as personalized health features.
Dive Insight:
Whoop makes a wearable wristband that tracks metrics such as sleep, heart rate and strain. All of Whoop’s devices require an annual membership, with costs ranging from $150 to $360. Certain features, such as electrocardiogram readings and atrial fibrillation detection, are locked behind the pricier membership.
The company added a blood pressure feature last year, which became the subject of a Food and Drug Administration warning letter as regulators said blood pressure measurements should be regulated as a medical device. In January, the FDA changed course, saying in a final guidance that blood pressure features may fall under the agency’s wellness exemption. Whoop applauded the changes.
Whoop is undergoing a hiring spree as it raises the funds. In early March, the company said it plans to hire for more than 600 jobs in 2026.
The latest funding round was led by Collaborative Fund, with participating investors including Abbott and Mayo Clinic. Whoop also named sports celebrities among individual investors, including Cristiano Ronaldo and LeBron James.
