Oura, the Finnish health technology firm renowned for its smart rings, has recently reached a remarkable achievement by obtaining over $900 million in a new funding round, boosting its valuation to an impressive $11 billion. This advancement signifies a notable progression for the company, which commenced its journey a decade ago with a mission to make sleep tracking enticing.
The influx of capital is poised to support Oura’s initiatives in AI-driven advancements, broaden its global footprint, and enhance its expanding health platform. The company has already sold 5.5 million rings, with more than half of these sales happening in the last year alone. Oura’s revenue saw a twofold increase in 2024, exceeding $500 million, and it is anticipated to exceed $1 billion by 2025.
CEO Tom Hale highlights that the new funding highlights the company’s dedication to “proactive health,” moving beyond basic sleep and heart rate monitoring to assist users in better understanding their bodies, making informed lifestyle decisions, and linking their data with healthcare professionals.
Alongside the financial growth, Oura is experiencing a shift in leadership. David Shuman, a long-serving board member, is taking on the role of the new board chair, succeeding Eurie Kim. The board is also welcoming Wen Hsieh from Matter Venture Partners, who offers substantial hardware knowledge to steer Oura’s next phase of product innovation.
Oura continues to advance on the product side, recently launching the Oura Ring 4 Ceramic, a more resilient version of its flagship wearable, along with its inaugural hardware accessory, the Charging Case. The company has also introduced Health Panels, enabling users to arrange lab tests and access results directly within the app. These innovations underscore Oura’s evolution from a fitness gadget to a holistic health platform.
With its swift sales and revenue increase, Oura is not just crafting a piece of jewelry but building a health ecosystem. The nearly billion-dollar funding will propel its growth, positioning the company to sustain its leadership in the dynamic wearables market.
