Funding round
WHOOP Series E
WHOOP, which works in wearable health technology development in Boston, raised $100M in a Series E round announced on 28 Oct 2020, led by Institutional Venture Partners, at a $1.20B post-money valuation. 11 firms took part, 1 of them already investors. It is WHOOP's fourth venture round on record; the one before was a Series D in Nov 2019.
$100M
Amount raised
$1.20B
Post-money valuation
$1.10B pre-money
11
Investors
1 lead
8.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced WHOOP at $1.20B after the new money. The $100M bought investors about 8.3% of the company. It came 11 months after WHOOP's Series D. It is 10% of the $967M WHOOP has raised in the venture rounds on record. WHOOP raised again 10 months later: a Series F round of $200M in Aug 2021, at $3.60B post-money.
WHOOP's funding rounds
WHOOP has 6 venture rounds on record. This one is highlighted.
- Series B 22 Sep 2015, led by Two Sigma Ventures $12M
- Series C 6 Mar 2018, led by UAE71 Capital $25M
- Series D 12 Nov 2019, led by Foundry $55M
- Series E this round 28 Oct 2020, led by Institutional Venture Partners $100M$1.20B post-money
- Series F 30 Aug 2021, led by SoftBank Vision Fund $200M$3.60B post-money
- Series G 31 Mar 2026, led by Collaborative Fund $575M$10.10B post-money
Investors
Who put money in
Institutional Venture Partners led the round with 10 other firms. Institutional Venture Partners had backed WHOOP before.
Lead investor
- Institutional Venture Partners backs 109 venture-backed companies existing investor
Also in the round
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- backs 102 venture-backed companies new investor
- Two Sigma Ventures backs 60 venture-backed companies new investor
- backs 127 venture-backed companies new investor
- new investor
- backs 91 venture-backed companies new investor
- backs 31 venture-backed companies new investor
- backs 17 venture-backed companies new investor
- new investor
- backs 24 venture-backed companies new investor
Joined the board: Eric Liaw (IVP).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series E rounds in Medical Supply Manufacturers within a year either side disclosed an amount; the median was $29M, and this round was 3.5 times the median. The closest in time, other companies' Series E rounds in Medical Supply Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Medical Supply Manufacturers | 16 Nov 2020 | $65M | not disclosed | OMRON and Khosla Ventures |
| Medical Supply Manufacturers | 2 Sep 2020 | $29M | not disclosed | Yonghua and Corporate Strategic Investor |
| Medical Supply Manufacturers | 8 Feb 2021 | $23M | not disclosed | CDH Investments |
| Medical Supply Manufacturers | 1 Mar 2021 | $7.5M | not disclosed | Unorthodox Ventures |
| Medical Supply Manufacturers | 27 May 2021 | $104M | not disclosed | OrbiMed |
| Medical Supply Manufacturers | 6 Jul 2021 | $55M | not disclosed | not named |
| Medical Supply Manufacturers | 14 Sep 2021 | $7.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did WHOOP raise in its Series E round?
WHOOP raised $100M in its Series E round, announced in Oct 2020.
Who led WHOOP's Series E round?
Institutional Venture Partners led it, with SoftBank Vision Fund, Accomplice, Two Sigma Ventures, Collaborative Fund and The Thursday Group and 5 more.
What was WHOOP's valuation at the Series E round?
$1.20B post-money ($1.10B pre-money).
How does it compare with other Series E rounds in Medical Supply Manufacturers?
7 Series E rounds in Medical Supply Manufacturers within a year either side disclosed an amount; the median was $29M, and this round was 3.5 times the median.
Did WHOOP raise again after this round?
Yes: a Series F round in Aug 2021 of $200M at $3.60B post-money.