Fitness tech company Whoop hits $3.6B valuation after SoftBank-led funding boost
Summary
Whoop, which makes wearable fitness tracking technology, raised $200 million in a series F funding round as the company looks to grow internationally. In 2022, Whoop will open offices around the world, including a new global headquarters in Boston planning to house more than 1,000 team members on-site. "While we have experienced amazing growth in the past year, the potential of our technology and the vast market for health monitoring remains largely untapped." Whoop expects to use the new capital to invest in research and development; further enhance its product, software and analytics; enter new markets; acquire other technology companies; expand hiring; and play a larger role in professional sports by targeting a wider audience with biometric data visualization. RELATED: Competing with Apple and Fitbit, Amazon launches health wearable that tracks activity, body fat, emotions U.S. tech industry revenue will reach a record-breaking $487 billion in 2021, a 7.5% jump year over year, according to the Consumer Technology Association, driven by unprecedented consumer demand and new technology on the horizon.
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