What You Should Know:
– ŌURA, the company behind the world’s leading smart ring, has announced the completion of a $200 million Series D funding round, raising its valuation to $5.2B.
– This significant investment, with participation from Fidelity Management & Research Company and Dexcom, reflects ŌURA’s strong momentum and its potential to transform the healthcare landscape.
Driving the Future of Health Wearables
ŌURA has been redefining health wearables since its founding in 2013. The company’s latest product, the Oura Ring 4, offers unparalleled accuracy, comfort, and personalization through its innovative Smart Sensing technology. ŌURA has expanded its capabilities beyond sleep and activity tracking to include a broader range of health use cases, such as heart health, stress management, and women’s health.
Fueling Growth and Innovation
This new funding will enable ŌURA to:
- Expand product offerings: Develop new features and functionalities for the Oura Ring.
- Invest in research and development: Advance its technology and explore new applications for its health data and insights.
- Accelerate global expansion: Increase its reach and impact in new markets.
- Pursue strategic acquisitions: Acquire companies that complement its existing offerings and accelerate its growth.
Building on Recent Momentum
This investment follows a period of significant growth for ŌURA, with the company recently surpassing 2.5 million rings sold and doubling its member base and revenue in the past year. ŌURA has also expanded its retail presence through partnerships with major retailers like Amazon and Target, and grown its commercial business with military partnerships.
ŌURA’s ecosystem includes over 800 partners across various health and wellness sectors, including women’s health, metabolic health, fitness, and behavioral health. The company’s platform is used by thousands of teams, research organizations, and healthcare providers to manage health and improve outcomes.
“As we continue to drive momentum and growth, we are bolstered by the additional support of these investors,” said Tom Hale, ŌURA chief executive officer. “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.”
