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Fitness wearable maker Whoop raises $575m at a $10.1b valuation
Whoop, a US fitness wearable company, raised US$575 million in a series G round at a US$10.1 billion valuation led by Collaborative Fund as it looks to expand into healthcare and medical uses.
The round was led by Collaborative Fund, with participation from investors including Mubadala Investment Company, Qatar Investment Authority, 2PointZero Group, Abbott, and Mayo Clinic.
The company has raised about US$900 million to date. Abbott’s participation signals a deeper partnership, though details were not disclosed.
CEO Will Ahmed said Whoop reached a US$1.1 billion bookings run rate last year and is preparing for public company requirements, without committing to an IPO timeline.
🔗 Source: TechCrunch
🧠 Food for thought
Implications, context, and why it matters.
A regulatory showdown looms over Whoop’s medical pivot
- This funding round aims to move Whoop from a performance tracker toward a predictive health platform 1.
- That plan runs into U.S. Food and Drug Administration (FDA) oversight, since the federal agency regulates medical devices 2.
- A warning letter said the Blood Pressure Insights feature counts as a medical device under federal law. The FDA has not authorized it for any use, plus Whoop lacks premarket approval or 510(k) clearance, an FDA pathway that allows certain devices to be marketed if they are substantially equivalent to an existing legally marketed device 2.
- Whoop says the feature targets general wellness. The dispute underscores the regulatory work ahead as the company moves further into healthcare and medical uses 2.
Consumer engagement is the new weapon in remote healthcare
- Investments from Abbott and Mayo Clinic suggest confidence that a consumer wearable company can expand into healthcare and medical uses. That could include remote patient monitoring (RPM), which involves monitoring patients outside traditional clinical settings using connected devices and data 2.
- Specialized medical device companies have long covered this market for post-hospital care 3.
- Whoop may benefit from frequent use, with its CEO citing an 83% daily active user engagement rate 1.
- The sources do not establish a direct comparison between Whoop’s continuous consumer data and standard RPM programs. Mayo Clinic’s RPM framework uses connected devices like a blood pressure cuff, pulse oximeter, scale, and thermometer, plus symptom assessments over defined program durations 3.
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