Oura Health Oy, the company behind the Oura health and fitness ring, is in the process of raising $875 million in a new Series E financing round. According to a new report, this funding is expected to value the company at approximately $10.9 billion, which would effectively double its valuation from the $5 billion it reached in its Series D round last December. The report notes that the new funding round could ultimately exceed $900 million and is expected to close by the end of the month.
Rapid Growth and Future Plans
The company’s growth has accelerated significantly, with total rings sold reaching 5.5 million to date. This is a notable increase from the 2.5 million rings reported in June 2024. This growth has been driven by several key factors, including a rise in female consumers, strong sales through retail stores and health savings accounts, and an expansion into international markets.
Oura Health is projected to generate more than $1 billion in revenue this year, doubling the $500 million it made in 2024. Looking ahead, the company forecasts that its sales will exceed $1.5 billion in 2026. The new funding will be used to scale production, invest in new product development, and continue the company’s international expansion efforts.
Author’s Opinion
Oura’s explosive growth and soaring valuation highlight a massive consumer appetite for personalized, non-intrusive health technology. By focusing on a discreet wearable like a ring, Oura has carved out a unique space that appeals to users who find smartwatches cumbersome. The company’s success, driven by an expanding consumer base and new sales channels, positions it as a major player in the health tech market. The challenge now is to prove it can maintain this growth and turn its new funding into a sustainable, long-term business that goes beyond just hardware sales. This new round of funding is not just a financial victory; it’s a vote of confidence in a new vision for wearable technology.
Featured image credit: Jyri Engestrom via Flickr
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