ŌURA secures $900 million to expand Smart Ring globally

Wearable device company ŌURA has secured $900 million to advance AI and support its global expansion, the company announced Tuesday.

ŌURA, founded in Finland in 2013, offers a wearable smart ring called Oura Ring, as well as an accompanying app. The ring provides personalized information and advice on sleep, activity, preparedness, stress, resilience, women’s health and heart health. People can purchase an Oura ring starting at $349.

The $900 million financing was led by Fidelity Management & Research Company and included participation from ICONIQ, Whale Rock and Atreides. To date, ŌURA has raised $1.5 billion and the company is now valued at $11 billion. This funding round comes shortly after ŌURA announced a $200 million Series D round in December.

With this funding, the company will accelerate AI and product innovation and expand global distribution, a spokesperson told MedCity News. It will also invest in creating new health features.

Asked about ŌURA’s exit strategy, the spokesperson said the company was focused on “delivering the best possible product to our members at this time.”

In addition to the financing, ŌURA announced that David Shuman, founder of Lateralus Holdings and Oura board member since 2016, is now Chairman of the Board. He succeeds Eurie Kim, who has held this position since 2019.

“ŌURA’s growth and impact over the past year has been truly remarkable,” Shuman said in a statement. “The company has doubled its revenue, expanded its global reach, and delivered transformative solutions that are reshaping the wearables industry. I am grateful to Eurie for his leadership and insightful guidance throughout this period of incredible growth.”

Since its launch in 2015, ŌURA has sold more than 5.5 million ring devices, according to the announcement. The company also reported revenue of more than $500 million in 2024 and plans to exceed $1 billion in 2025.

For the future, the company intends to continue this momentum.

“Our goals are to accelerate innovation, expand our global reach, and set a new standard for what wearable devices can achieve to advance preventive health,” the spokesperson said. “We strive to push the boundaries of what is possible, making technology not only more powerful, but also more personal and proactive to help people live healthier lives.”

Other wearable devices that provide personalized health information include Fitbit and the Apple Watch.

Photo credit: Oura