ŌURA, a wearable device company, has secured $200 million in Series D funding to expand its product offerings, the company announced last week.
ŌURA, which was founded in Finland in 2013, offers a wearable smart ring called the Oura Ring, as well as an accompanying app. The ring provides personalized insights and guidance on sleep, activity, readiness, stress, resilience, women’s health and heart health. People can purchase an Oura Ring starting at $249.
Fidelity Management & Research Company and Dexcom, a continuous glucose monitoring company, participated in ŌURA’s $200 million Series D round. To date, ŌURA has raised more than $550 million, and its Series D round brings its valuation to $5.2 billion.
The funding will help the company grow its product offerings and explore potential acquisitions, said Tom Hale, CEO of ŌURA. ŌURA will also invest in product, science and healthcare innovation and continue global expansion.
The financing comes after a period of growth for ŌURA: It has sold more than 2.5 million rings, and its member base and revenue more than doubled over the last year, according to the announcement. It also launched new retail partnerships with Amazon and Target and expanded military partnerships. In addition, it recently launched the Oura Ring 4, which provides more accurate measurements.
It also acquired Sparta Science and Veri and launched partnerships with Medicare Advantage provider Essence Healthcare and Dexcom.
“We are committed to making inroads in the healthcare industry,” Hale said in an email. “Recently, ŌURA announced its partnership with Essence Healthcare to redefine health management for seniors by integrating Oura Ring into their daily lives. This partnership is the first step towards a future where wearable tech is incorporated into care plans to help patients and providers more effectively address health needs.”
Looking ahead, the company hopes to “transform” the fitness and wellness industry by making healthcare more proactive rather than reactive, Hale added.
“We envision a future where personalized health monitoring becomes the standard, moving beyond one-time measurements to providing continuous, individualized insights that help users understand their unique physiological patterns,” Hale said. “We believe our holistic approach will enable users to understand the intricate connections between daily behaviors and long-term health, creating a personalized, data-driven journey for proactive care.”
Other wearable devices that provide personalized health insights include Fitbit and the Apple Watch.
Photo: StockFinland, Getty Images
