Whoop Raises $575 Million at $10.1 Billion Valuation After Hitting $1 Billion in Annual Recurring Revenue

Wearable fitness tracker maker Whoop has raised $575 million led by Collaborative Fund at a valuation of $10.1 billion, with the company reporting it reached $1 billion in annual recurring revenue by the end of 2025, according to a report by Niko Gallogly at the New York Times cited by Techmeme on Tuesday. The round represents a significant step-up for the Boston-based company, which sells subscription-based fitness and health monitoring hardware. Whoop reported that 60 percent of its 2025 sales were generated outside the United States, a figure that underscores the global appetite for continuous health monitoring and the company's expansion beyond its initial U.S. athlete and fitness market. Whoop's model differs from most consumer hardware companies in that it charges a recurring subscription fee for access to its analytics platform, with the hardware included in the membership. That structure produces predictable revenue and high switching costs, as users who cancel lose access to historical health data and trend analysis. The $10.1 billion valuation positions Whoop among the most highly valued private consumer health companies globally. The company has been mentioned as a potential IPO candidate in health and wearables coverage over the past two years, though it has not announced a public offering timeline. Whoop competes broadly with Apple Watch's health monitoring capabilities and more narrowly with Garmin's performance-focused wearables. Its differentiation lies in its focus on recovery, strain, and sleep tracking rather than general smartwatch functionality. Collaborative Fund, which led the round, is known for investments including Kickstarter and Lyft. Additional investors in the round were not disclosed.