Morning Report: Athlete exercise tracking wearable company Whoop raised a $25 million Series C for global expansion.
Exercise tracking company Whoop raised a $25 million Series C led by UAE71 Capital along with investments by the NFL Players Association, Durant Company, and Twitter executive Jack Dorsey. Previous investors also participated in the Series C including Two Sigma Ventures and NextView Ventures.
Whoop sells wearables primarily marketed for high performance athletes looking to optimize their athletic regimen. It sells both individual consumer bands for $500 dollars and offers an “Elite Solution” for college and professional teams at $100 dollars per athlete per month for enhanced analytics and performance management. The band tracks resting heart rate (RHR) during the day and heart rate variability (HRV) during sleep so as to provide athletes information about their body during and after strain and recovery.
Professional athletes ranging from tennis players to Major League Baseball teams have used the performance tracking sports band. According to its website, the company was named the official recovery wearable of the NFL Players Association (NFLPA) last April and has been endorsed by athletes like pro cyclist Lawson Craddock and other NBA athletes.
The company previously raised $15 million in a Series B in September 2015 by Two Sigma Ventures, as well as a $6 million Series A by NextView Ventures and others in 2014 and a $3 million Seed round in July 2013. This latest round brings its total known funding to $49.8 million according to Crunchbase. According to Techcrunch, the company will be using the funding to accelerate its global expansion and has brought Puma’s Antonio Bertone as CMO along with other executive changes.
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