WHOOP is a fitness strap that’s supposed to be worn against the wrist to help the user improve their workouts. That product now has more funding to land on more wrists.
The product raised $55 million in funding. This Series D equity and debt round was led by Foundry Group, with assistance from Two Sigma Ventures, Accomplice, Promus Ventures, Silicon Valley Bank, Thursday Ventures, and several individual investors. Chris Moody, a partner at Foundry, has joined the company’s board of directors.
The strap feeds heath and fitness data, based on three markers: heart rate variability, resting heart rate, and sleep patterns, to the user for improving their training, healing and fitness capabilities. Athletes and fitness pros are using this product to improve the quality of their workouts and training sessions.
“When we first started WHOOP, we focused almost entirely on the best athletes in the world. If anyone needed to understand strain, sleep and recovery, it was them,” said CEO Will Ahmed, describing in WHOOP’s blog how the wearable was developed and its building support among both athletes and non-athletes alike. “Then we moved naturally to the best sports teams. Over time we felt a stronger and stronger pull from people like you – high performing individuals who want the tools and the data to better understand their bodies.”
Ahmed stated that WHOOP will be investing the new capital towards improving the customer experience. “We’ll soon release new analytics features designed to help you better understand your body, as well as new software features to enhance the WHOOP community and compare data with other members,” he said. “You’ll also find a massive upgrade to our Membership Services experience; if you have any issues you can expect a rapid response from our Membership Services team to help you out. Overall, there’s a lot of exciting work being done here.”
The newest version of WHOOP, Version 3.0, was just released.