Finnish company Oura, specializing in health technology, has secured a substantial $900 million in new funding, with Fidelity Management & Research Company leading the investment round. ICONIQ and Whale Rock, along with Atreides, also joined as investors in this funding round.
The latest funding round values Oura at around $11 billion, marking a significant increase from its previous valuation in December. According to a report by Bloomberg, the company has successfully closed this funding round at the increased valuation.
CEO Tom Hale expressed his gratitude for the trust millions of users have placed in Oura, emphasizing the company’s commitment to proactive health. The funding will be allocated towards AI advancements, product innovation, the introduction of new health features, and enhancing global distribution channels.
Oura has witnessed remarkable growth, with over 5.5 million smart rings sold to date. The company’s revenue doubled in 2024, reaching $500 million, and is expected to surpass $1 billion this year. Dominating the smart ring market with more than 80% share, Oura continues to attract diverse demographics, including women in their early twenties.
In October, Oura unveiled its latest product, the Oura ring 4, and recently introduced ceramic versions of the ring with an optional charging dock. The company’s expansion into health tests is evident through the launch of Health Panels, enabling users to book a blood test for $99 at Quest Diagnostics labs nationwide.
With the introduction of the blood testing feature, Oura enters a competitive landscape alongside startups like Whoop and ring manufacturers like Ultrahuman and Samsung, showcasing its commitment to holistic health monitoring.
