US health-tech startup co-founded by Romanian reaches unicorn status after USD 100 mln financing

WHOOP, a US health-tech startup co-founded a Romanian engineer and Harvard graduate, raised USD 100 million in a Series E financing round, reaching a valuation of USD 1.2 billion. Startups that reach over USD 1 billion in valuation are generally referred to as unicorns. WHOOP is the second unicorn co-founded by a Romanian after Robotic Processing Automation (RPA) leader UiPath, founded in Bucharest by two Romanian entrepreneurs.

The financing round was led by IVP, one of the premier later-stage venture capital and growth equity firms in the US. Several other venture capital funds participated in this financing round alongside several professional athletes in the US, such as NBA star Kevin Durant and NFL stars Patrick Mahomes and Eli Manning.

WHOOP is a monthly subscription-based service for 24/7 health monitoring across sleep, recovery, strain, and more. The WHOOP membership includes free hardware (WHOOP Strap 3.0) and a coaching platform designed to optimize behavior. Studies show that after a year on WHOOP, members experience longer and more consistent sleep, improved physiology, enhanced physical performance, and meaningful lifestyle changes.

“WHOOP has built best-in-class wearable technology and an aspirational brand that have propelled the company to an impressive period of hypergrowth,” said Eric Liaw, General Partner at IVP.

Partly responsible for this technology is Romanian engineer Aurelian Nicolae, one of WHOOP’s three co-founders and the company’s Lead Product Engineer. He’s a Harvard graduate. The other two co-founders are WHOOP CEO Will Ahmed and CTO John Capodilupo, also former Harvard students.

The new investment round follows a period of growth for the WHOOP membership and overall business, the company announced, without revealing any numbers. WHOOP will primarily invest the new funds in product and software development, global expansion, and membership services. “We will continue to make WHOOP the best product experience for measuring and improving health,” said Will Ahmed, WHOOP Founder & CEO.

(Photo source: WHOOP Facebook page)