Whoop, a Boston-based sports tech and analytics company that makes discreet wearables, has a $55 million Series D funding. The funding round was led by Foundry Group, with participation from Two Sigma Ventures, Accomplice, Thursday Ventures, Promus Ventures, Silicon Valley Bank and other individual investors. The funding brings the total to more than $100 million for the company.
The series D round adds up to a mix of equity and debt. While Whoop hasn’t revealed the specific breakdown, the money will be put towards expanding consumer acquisitions, membership services and product development, reports MobiHealthNews.
“We will continue to grow our membership globally and make Whoop the best experience for our members,” Will Ahmed, Whoop founder & CEO, said in a statement. “Human performance is a new category and Whoop has emerged as both the pioneer and the market leader.”
The company’s WHOOP strap is a wrist-worn wearable device that is designed to improve training, sleep and lifestyle choices with real-time feedback on the body. Its effortless social media integration further augments the user experience with compelling graphic design and easy in-app capture for ultimate connectivity. The new WHOOP Strap 3.0 allows users to share live data and progress with trainers, coaches, friends, and connect with the WHOOP community at large, said the company in a press release.
Whoop also provides a membership for 24/7 coaching to improve performance. The company’s membership comes with free hardware (the new Whoop Strap 3.0), a coaching platform designed to optimize behavior, and a community of high performers. Members range from professional athletes such as sports teams in the National Basketball Association (NBA) and Major League Baseball (MLB), and Fortune 500 CEOs to fitness enthusiasts and military personnel.
After the 6-months subscription ends, the user is free to cancel their membership and keep their Whoop wearable along with access to all the data leading up to the membership’s end date.