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In-person gyms and fitness clubs took a major hit in 2020. After all, being surrounded by strangers breathing heavily was low on Americans’ priority lists during a pandemic. Meanwhile, a different sector of the fitness industry was seeing a meteoric rise. As workouts moved more to outdoor solo activities like running and cycling, demand spiked for wearable devices. By tracking heart rates and sleep schedules, wearables allow users to create evolving fitness regimens without the need to go inside a gym.  Whoop, the makers of a wrist monitor with a stable of high-profile celebrity athlete users, raised $100M in a Series E funding round in October 2020, sending the company’s valuation to over $1.2B, in part thanks to demand from users who bought a Whoop Strap during the pandemic. Some wearable device manufacturers reported that their sales doubled in 2020. 

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