Apple Watch content backs up automatically to your paired iPhone, and you can restore it from a stored backup. Apple Watch backups are included as part of your iPhone backups to iCloud or iTunes, but you cant view information in the backups in iCloud.
Backing up and restoring Apple Watch. When paired with an iPhone, Apple Watch content is backed up continuously to iPhone. If you unpair the devices, a backup is performed first. If you repair Apple Watch or get a new one, you can choose Restore from Backup and select a stored backup on your iPhone.