WHOOP raises $575M Series G with LeBron James, Cristiano Ronaldo, and sovereign wealth funds on the cap table

progress. The chat the chat says just put the S1 in the in the SEC mailbox.

We'll talk to you soon.

Good to see you. Looking forward to following up.

Let me tell you about Octa. Octa helps you assign every AI agent a trusted identity so you get the power of AI without the risk. Secure every agent. Secure any agent with Octa. And our next guest is already in the reream waiting room. We got Will Ahmed from Whoop Whoop. He's back. How you doing? Good to see you again. Welcome back.

Hey guys, thanks for having me.

Give us the update. What happened? How you doing?

Things are good. Thank you. We uh we announced a round of financing today. Our series G $575 million round. So, thank

Yes. There we go. Thank you.

Is this Is this the capital you finally need to make a bust down whoop? Diamonds from the factory. That's what I'm looking for.

Can you do anything?

You know, we do we do have some we have some premium offerings in the mix that are going to be just right for you. Actually,

very happy with the product development roadap.

Jordy wants a bus done. No, no. Uh seriously, give me give me updates. What uh what's changed? Uh where do you want the product to go? And yeah, I am interested to know uh are more collaborations in the works? Do you see that as an important point or are you just focused on uh more and more channel partners, more and more distribution, more growing because the product's pretty dialed at this point?

Well, look, it's been an extraordinary uh 12 months for the business. You know, we we ended 2025 with over 100% year-over-year growth. You know, 1.1 billion in bookings run rate to end the year. Our membership is growing around the world. Um we're operating in 60 markets. We've got Whoop members in over 200 countries. We've launched medical grade technology now. We're coming out with blood tests uh around the world. And so Whoop's really become this broad-based health platform. And uh and you can see that in the financing announcement today. You know, we've got the history of Whoop with the worldass athletes. We've added now uh LeBron James is a new Whoop investor. We've got Cristiano Ronaldo on the cap table. uh Virgil Van Djk, um Matthew Vanderpole, some of the world's very best athletes really from every sport uh are now on the Whoop Cap table. And then uh in addition to that, we've got a bunch of uh great existing investors continuing to support the company, Collaborative Fund, IVP, Foundry Group, and and more. Uh and then we've brought in some sovereign wealth funds uh from uh the GCC. proud to have Mubata and QIA and uh 2.0. So really some of the biggest funds in the world that are are I think phenomenal long-term partners.

Yeah.

And then lastly to the point about health, you know, we've added uh the Mayo Clinic is an investor in Whoop, one of the premier health institutions.

That's a that's a niche. That's a hard rare Pokemon in the venture world. I haven't seen I haven't heard of them on

ripping a lot of seed checks at YC Demo Day. Yeah, they haven't they haven't done a lot of investing, but uh we've see a ton of synergies from a research and medical capability standpoint. Uh and then we also have added Abbott as an investor and you know really one of the best medical device makers also in the world. So it's a it's a phenomenal mix of investors and I think we've been able to achieve this because of uh of the remarkable growth that we're seeing as a company and I think also just the the tailwinds around health and longevity. How do you think your marketing mix will change over the next few years? Because I'm I'm seeing $575 million, LeBron James, Cristiano Ronaldo that has like crazy Super Bowl ad written all over it. At the same time, you're tech native. I could imagine going way further into AI generated personalized ads, pushing the performance marketing further. Like, what appeals to you? How do you think you'll change? What will what will stay the same? What will change over the next few years from a marketing perspective?

Well, we never want to lose sight of the fact that we started in sports and we've built this aspirational performance lifestyle brand. And so that'll really be at the core still of of a lot of what we do for Whoop, but we also now have a product that, you know, can detect whether you have AIB and tell you your blood pressure every morning and help you do blood tests. So, it's it's just a much broader health platform than it's ever been before. and our marketing needs to reflect that. You know, one of the areas I would say of maybe not weakness but opportunity for Whoop is uh is brand awareness. You know, we don't have massive brand awareness around the world. And so this capital is going to give us the gunpowder to really grow uh broadly internationally and so uh you're going to be seeing a lot of whoop uh wherever you consume content.

Super Bowl ad incoming.

Yeah. If you I mean if you want to reach me specifically maybe a partnership with like an athlete like Johnny Knoxville might work.

It it it just might make sense.

We'll do a Whoop live heart rate on some of the stunts.

Stunts. I think that would do the trick.

That would do the trick.

Uh I'm curious like how

uh Whoop uh like how do you guys think about improving accuracy at this point? Like I'm assuming like a lot like so so much progress has been made over the last however many years but there's still always incremental progress like you can always be more accurate. H how do you think how do you think about how do you think about that? Is that is that still like a top priority or are there other is it accurate enough at this point that uh that there's better there's better things you can focus you know the the core energy of the team on. I mean, I think big picture, we want the product to be getting constantly smaller and smarter. You know, we want it to be an aspirational product in the sense that it's something cool that you wear on your wrist or we want it to be something that disappears throughout your body and can essentially be invisible. And so, however you can gather this data super accurately, have the data sets grow in nature, more sensing, more capabilities, more medical approvals, um, the better. And I think that's going to continue to expand our TAM. I think it's going to continue to deliver deeper insights for our members. So, we're going to be leaning in pretty heavily on research and development. You're going to see a lot of very powerful sensing coming from Whoop in the years to come.

How is the peptide boom affecting Whoop? Well, I think the underlying reason for the peptide boom is that people want to take more control of their own health and they're sort of generally frustrated with the tools that they've had uh to improve their health. And so that leads in different directions. Peptides being part of it, supplements being part of it, uh concierge doctors being part of it, uh AI health coaching being part of it. Uh but broadly speaking, it's it's I think good for Whoop that people want to take more control of their health. And 10 years ago, I would talk about health monitoring and people would say, "Well, that sounds like something niche for athletes." And now, you know, everywhere I go, people want to talk about how they can improve their sleep or improve their V2 max or what is heart rate variability. So there's just clearly been a cultural shift to care a lot about your health. And you know, longevity has become one of the most common reasons that people use the product. Our health span score, the Whoop age score, has become the most screenshotted page in the Whoop app. Yeah.

So clearly you've got people who want to show off uh how old they are or, you know, who want uh some counseling for how how um how old they might be.

Yeah. Yeah, that makes a lot of sense. Yeah, there's an interesting dynamic with the various health platforms where there's like kind of an incent there's like a weird incentive to like you know measure like say somebody's uh uh you know their chronological age versus their biological age make it like lower so people are more likely to share. It's like I've seen I've seen some people have you know come in and say like well my biological age is 19.

I I I did one test that said I had I had the mind of a five-year-old. It said it was testing my brain health and it said that I had the

Is that good or bad?

It's not.

It's extremely young. I'm way over five. So I assume it's good. Look, I think we've built the most credible uh biological age metric because we did first of all, we did it in partnership

um with the leading longevity institute uh out of uh California and then uh the Buck Institute and then

uh we show you in great granularity each of your biometrics and what's improving it and what's not and by how much.

So here's a trivia question for you. What percentage of people on Whoop do you think have a younger Whoop age?

Oh, interesting. I I mean, if it was perfect, I think it would be 50/50, I would think.

70% because people that use Whoop are much more likely to be

Oh, true. Okay, so let's go with 70. What is it?

It's 55%.

What that means is 45% are older on Whoops.

You know, they're early in the

You guys have done a lot, but this whole show is really dialed in. Uh, no. So, so 45% are uh,

you know, 45%.

Yes.

So, you know, but that shows that like it's not just telling you what you want to hear. It's, you know, it's going to push you.

Yeah.

Yeah. Yeah. And I and I only I only brought that up originally because I I've seen some of these come out and I'm like, okay, there's zero shot this person's biological age is lower than their chronological age. uh and based on not not every platform, you know, platforms are just kind of every platform is going to run their own kind of algorithm to determine that and not necessarily working with the Buck Institute.

Yeah, exactly.

Um

well,

very cool to get the update. Congrats to the whole congrats to the whole team. I feel like just in the last year, this like the world has woken up to this

kind of category and your guys's progress is a testament and I still think it's I still think it's very early. It must be fun to walk down the street for you and,

you know, some place like LA because everywhere and, you know, I'm sure it's like every 10th person has a Whoop band on, but that means uh there's nine nine or so.

Uh,

yeah, it is it is a trip seeing seeing Whoop in the world. And, you know, for people who decide to take the hard path of building hardware, it's an amazingly rewarding feeling when you see a physical product that your team's built in the world. So, I will say that's a that's a very gratifying thing. But you guys, you guys owe me a question here. You haven't asked me.

What is it? What's the question?

Aren't you going to ask me if the job's done?

Oh, yeah. Is the job finished?

Job's not done, guys. We got to keep going.

Thank you. Thank you for that.

Great stuff.

Thanks.

I appreciate you guys. Keep it up. Thank you.

We'll see you at soon, I'm sure.