Whoop’s value has just tripled to $10 billion

Whoop, the fitness wearable and health tracking company, has closed a $575 million Series G round at a valuation of $10.1 billion — nearly triple its last valuation. $3.6 billion – in a partnership that includes independent funds, major health organizations, and some of the world’s most famous athletes.

The competition was led by the Collaborative Fund and includes participation from Mubadala Investment Company, Qatar Investment Authority, 2PointZero Group, Abbott, Mayo Clinic, Macquarie Capital, IVP, Foundry Group, Accomplice, Affinity Partners, Glade Brook, B-Flexion, Promus Ventures, and Bullhound Capital. Individual buyers include Cristiano Ronaldo, LeBron James, Rory McIlroy, Reggie Miller, and Niall Horan, among other famous and famous athletes.

The company has now raised nearly $900 million in total since its inception.

A popular addition to the coffee table is Abbott, the pharmaceutical giant. Whoop founder and CEO Will Ahmed told me that the deal represents a big push into health and healthcare, though he added that there’s “more to come” from the announcement.

The investment comes as Whoop reaches a major business milestone, according to Ahmed. The company exited last year at a booking value of $1.1 billion, a 103% year-over-year increase. Speaking to TechCrunch last week, Ahmed explained why booking is a strategy worth focusing on: When you’re shipping millions of electronic products around the world in a subscription business, investors need to understand how the costs work simultaneously – storage, hardware costs, and recurring costs at the same time. It’s a much more complex image than a pure software company, and bookings paint a better picture.

As for what’s coming up with the rest of the headquarters, Ahmed pointed to talent and hiring, marketing and brand awareness, and continued investment in R&D, as well as international expansion.

The obvious question looming around this growth in this valuation: Is an IPO coming? (Competitive company Oura says talking to banks (about to make their own this year.) Ahmed said the company was doing “a lot of regrets to become a public company” but stopped short of revealing plans for the near future.

Considering that Whoop is a consumer brand that has a big name among health-conscious and fitness-minded users, it’s the kind of company that can bring real joy to retailers every time they decide to make a move. Currently, Whoop has more traffic, with a bigger number next to its name.

You can listen throughout our conversation with Ahmed, where we also discussed the company’s early days, its current big lending plans, and how Whoop is integrating AI into its business. Alternatively, you can read about Whoop’s big push into healthcare and what it means for the brand Here.