WHOOP secures $575 million at a $10.1 billion valuation, indicating a potential IPO on the horizon.

      In summary: WHOOP has secured $575 million in a Series G funding round that values the screen-free health wearable company at $10.1 billion—almost three times its 2021 valuation. Supported by sovereign wealth funds, leading medical institutions, and a lineup of celebrity athletes, the Boston-based startup is preparing for an IPO. The founder and CEO has indicated that the next round of private funding will be the last.

      WHOOP, the health wearable firm known for its screenless tracker, has successfully raised $575 million in a Series G funding round valued at $10.1 billion. Completed on March 31, 2026, this funding round almost triples its previously reported $3.6 billion valuation from 2021 and positions the company for a public listing, as stated by founder and CEO Will Ahmed. “We expect this to be our final private financing round,” Ahmed shared with Yahoo Finance. “Our next step is an IPO.”

      An exceptional group of investors

      The funding round was led by Collaborative Fund and includes a diverse range of backers. Notable institutional investors are Mubadala Investment Company and the Qatar Investment Authority, two prominent sovereign wealth funds, along with Abbott, Mayo Clinic, IVP, Foundry Group, Accomplice, Affinity Partners, 2PointZero Group, Glade Brook, B-Flexion, Macquarie Capital, Promus Ventures, and Bullhound Capital.

      Among the individual investors are Cristiano Ronaldo, LeBron James, Rory McIlroy, Reggie Miller, and musician Niall Horan. This blend of sovereign capital, clinical institutions, and high-profile athletes indicates that WHOOP is shifting its identity from merely a fitness device producer to a foundational player in a broader personal health platform. “Our fundraising brings together elite investors, top health institutions, and renowned global athletes to promote human performance and healthspan,” Ahmed stated in the official announcement. The involvement of Abbott and Mayo Clinic, known for their expertise in clinical diagnostics and preventive care, highlights WHOOP's intention to solidify its position between consumer wearables and medical-grade health tools.

      From a Harvard dorm to a health platform

      Founded in 2012 by Ahmed, a student-athlete at Harvard, along with John Capodilupo and Aurelian Nicolae, WHOOP was incubated at the Harvard Innovation Labs. The company's main product is defined by its absence of features: unlike the Apple Watch, Fitbit, or Garmin devices, WHOOP has no screen, no visible step counter, and no notifications. Rather, it continuously tracks strain, recovery, and sleep, with the data processed within an app that guides users regarding the physiological impacts of their choices.

      This approach has attracted a significant audience, with the company boasting over 2.5 million members and achieving a bookings run rate of $1.1 billion at the end of 2025, a 103% increase from the previous year. WHOOP also attained positive operating cash flow in 2025, reinforcing the rationale behind the substantial valuation jump from this round.

      Women accounted for 150% year-on-year growth in new WHOOP members by early 2026, with female users engaging with WHOOP’s AI features approximately 30% more than their male counterparts, a demographic shift that has influenced both product development and marketing strategies.

      Venturing into clinical territory

      In May 2025, WHOOP introduced WHOOP 5.0 and WHOOP MG, its premier medical-grade device. The MG model features an FDA-approved electrocardiogram, blood pressure insights, and a Healthspan metric designed to assess a user's Pace of Aging, generating a unique “WHOOP Age” distinct from their chronological age.

      In September 2025, WHOOP launched its Advanced Labs service, which garnered a 350,000-person waitlist after an earlier preview. This service combines blood testing with real-time wearable data, allowing members to schedule a comprehensive panel of 65 biomarkers, powered by Quest Diagnostics across the U.S., with results analyzed by a clinician and automatically synced to the WHOOP app. Pricing ranges from $199 for a single test to $599 for four tests annually. In March 2026, WHOOP released a specialized women’s health panel assessing 11 biomarkers related to cycle regulation and hormonal changes.

      The aim is to establish a continuous feedback loop: wearable data enhances the understanding of blood test outcomes, which in turn refines the daily coaching provided by WHOOP through its app. Investor interest in AI-supported health data platforms has surged, with specific funds investing in companies that blend diagnostics, continuous monitoring, and machine learning.

      AI and talent as a dual strategy

      In March 2026, WHOOP announced plans to hire over 600 positions worldwide as it expands its health platform. This timing is noteworthy amid industry discussions on whether to hire more staff or invest in AI. Ahmed addressed this matter directly. “Currently, firms are debating whether to expand their workforce or just invest in AI. We