When it comes to health gadgets you can wear on your finger, one brand stands out: ŌURA, maker of the Oura Ring. Today, the company announced the completion of a $200 million Series D funding round. The company’s CEO, Tom Hale, says that the money will “unlock new opportunities.”
ŌURA was founded in Finland in 2013—before Apple launched its first wearable, the Apple Watch—and recently announced that it has sold more than 2.5 million Oura Rings. The new funding means its valuation has now grown to $5.2 billion, twice its valuation from 2022.
What’s more, the company says its revenue has more than doubled over the last year, not least thanks to the $5.99 monthly subscription required to access the full range of data metrics.
The lightweight titanium ring stays on the wearer’s finger 24 hours a day, recording metrics which are served up on an iPhone or Android smartphone app.
Hale said, “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.”
The Oura Ring’s initial focus was on sleep and activity, though this has more recently expanded to include heart health, stress and resilience tracking and women’s health. New features emerge frequently, with the latest being Symptom Radar. This monitors certain vital signs as you sleep and tells you in the morning if it thinks you’re about to go down with a cold or flu, sometimes several days before you’ve spotted any symptoms.
The latest funding round was led by Fidelity Management and the glucose-monitoring group Dexcom and which takes total capital raised to more than $550 million, ŌURA says.
CEO Tom Hale said, “Wearable tech is for anyone who wants to better understand the state of their health and live more optimally, for longer. 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.”
