Oura reaches $11 billion valuation with new $900 million fundraise

Oura has announced a significant milestone, raising over $900 million in its Series E funding round, which elevates the company's valuation to an impressive $11 billion. This funding round was spearheaded by Fidelity Management & Research Company and welcomed new investor ICONIQ, alongside contributions from Whale Rock and Atreides. CEO Tom Hale expressed optimism about the investment, stating, "With this funding, we will accelerate innovation, expand our global reach, and establish a new benchmark for wearables in promoting preventive health." Hailing from Finland, Oura has made its mark by ranking No. 23 on CNBC's 2025 Disruptor 50 List and has successfully raised around $1.5 billion to date. The company is renowned for its Oura Rings, competing against other smart ring manufacturers like Samsung and RingConn, as well as fitness-focused brands such as Whoop and Garmin. Since its launch in 2015, Oura has sold over 5.5 million rings, a notable increase from the 2.5 million reported in June 2024. The company also reported revenues exceeding $500 million in 2024, more than doubling from the previous year, with expectations to hit $1 billion in sales this year. To enhance its presence in the wearable tech market, Oura is expanding its functionalities to rival broader wearable devices like those from Apple and Samsung. Recently, they introduced the Oura Ring 4 Ceramic and a new feature called Health Panels, allowing users to schedule blood tests and view lab results directly through the Oura App. This feature enables users to monitor up to 50 biomarkers and receive health summaries along with dietary or activity recommendations from Oura's AI-powered Advisor. Additionally, Oura has collaborated with Dexcom, a leader in glucose monitoring, to integrate glucose data with the biometric information gathered by Oura, enabling users to keep track of their glucose levels seamlessly. Hale concluded, "We're proud to be building not just a product, but a global movement toward proactive health—helping individuals learn about their bodies, make informed lifestyle choices, and connect effectively with their healthcare providers."