Whoop, the fitness and health tracking company, has just closed a $575 million funding round, tripling its valuation to $10.1 billion. The round is supported by top investors including sovereign wealth funds, major health institutions and high-profile athletes like Cristiano Ronaldo.

The company's growth is impressive, with a year-over-year increase of 103% in bookings and a booking run rate of $1.1 billion last year. Whoop plans to use the funding for talent acquisition, marketing and brand awareness and R&D investment, as well as accelerating international expansion.

But one must wonder: with such lofty valuations, will wearable tech companies eventually become too complex for personal ownership? Only time—and perhaps a few more billion dollars—will tell.