Whoop announced $575 million in new financing on Tuesday, valuing the wearable-maker at $10.1 billion. The round was led by Collaborative Fund and included participation from the Qatar Investment Authority, Foundry, and athletes LeBron James and Cristiano Ronaldo.

The company sells a wristband intended for continuous wear that tracks heart rate variability (HRV), blood pressure, blood oxygen levels (SpO2) and other physiological metrics. CEO and co-founder Will Ahmed said he sees a future where Whoop’s data could help predict major health events: "I do envision the potential of Whoop to predict that you’re going to have a heart attack before you do," he told the New York Times.

Ahmed started Whoop in 2012 while at Harvard. The product initially targeted elite athletes and performance teams, and early brand partnerships with athletes such as Michael Phelps and LeBron James helped establish that positioning. The company has since broadened its marketing toward everyday consumers who use continuous tracking for sleep, recovery and general health monitoring.

Whoop did not disclose how it will deploy the new capital beyond the statement announcing the round. The financing places the company among the more highly valued consumer health wearables, underscoring continued investor interest in devices that combine continuous physiological sensing with subscription coaching and analytics.

Photo credit: static01.nyt.com

Tags: Whoop, wearable health, heart rate variability, venture funding, sleep tracking

Topics: Neurotech industry & startups, Wearable neurotech, Sleep technology