Summary: ŌURA, the company behind the Oura Ring, completed a $200 million Series D funding round, raising its valuation to $5.2 billion. The funding will support product expansion, healthcare innovation—including artificial intelligence—global growth, and potential acquisitions. The funding comes after a year in which ŌURA reported higher sales, expanded its retail and commercial partnerships, and made acquisitions to enhance its health technology portfolio.
Key Takeaways:
- Funding and Valuation: ŌURA raised $200 million in Series D funding, bringing its valuation to $5.2 billion, with contributions from Fidelity and Dexcom.
- Growth and Partnerships: Over the past year, ŌURA expanded globally through retail and military partnerships and acquired companies like Sparta Science and Veri to diversify its health technology portfolio.
- Focus on Innovation: The new funding will drive advancements in artificial intelligence, healthcare innovation, and expanded use cases for the Oura Ring beyond sleep and activity tracking.
ŌURA, the company behind Oura Ring, announced the completion of a $200 million Series D funding round.
Fidelity Management & Research Company and glucose biosensing company Dexcom participated in the round. The investment raises the company’s valuation to $5.2 billion.
This new capital will enable ŌURA to expand its product offerings, fuel further investment in product, science, and healthcare innovation—including artificial intelligence—advance global expansion efforts, and explore additional acquisitions to accelerate growth, according to a release from the company.
“As we continue to drive momentum and growth, we are bolstered by the additional support of these investors,” says Tom Hale, ŌURA chief executive officer, in a release. “We’ve made significant progress in advancing our mission to make health a daily practice and will use this funding to unlock new opportunities, with AI development at the center of our strategy. We know that ŌURA has the potential to change lives at scale, and we’re excited to continue leading the market in innovation while pursuing opportunities that extend beyond the ring.”
Expanding Partnerships and Product Capabilities
This funding follows a period of growth for ŌURA. The company recently surpassed 2.5 million rings sold and has seen its member base and revenue more than double over the past year, according to a release from the company. This year, ŌURA expanded its retail presence globally with new retail partnerships such as Amazon and Target and grew its commercial business with expanded military partnerships, including the Naval Health Research Center, the Air Force, and the Defense Innovation Unit.
Further, ŌURA recently announced the acquisitions of Sparta Science and Veri, a partnership with Medicare Advantage provider Essence Healthcare, and a metabolic-health partnership with Dexcom.
The company recently introduced the next-generation Oura Ring 4. ŌURA has continued to expand its product capabilities from its core sleep and activity pillars to include a broader range of health use cases, including heart health, stress and resilience, and women’s health.
“Wearable tech is for anyone who wants to better understand the state of their health and live more optimally, for longer,” says Hale in a release. “We’re committed to continuing our relentless pace of innovation and delivering exceptional value to Oura members, and this new round of funding will enable us to do just that.”
Photo caption: Oura ring 4
File photo/Oura
