Oura Ring Maker Valued at $11B in New $875M Funding Round
▼ Summary
– Oura Health is raising $875 million in a Series E funding round, valuing the company at approximately $10.9 billion.
– This new funding round would double the company’s valuation from its previous Series D round announced in December.
– The company has sold 5.5 million rings to date and is projected to generate over $1 billion in revenue this year, doubling its 2024 revenue.
– Oura plans to use the new capital to scale production, expand internationally, and invest in product development.
– Recent growth has been driven by female consumers, retail store sales, health savings account purchases, and international market expansion.
The company behind the popular Oura smart ring has secured a massive financial boost, with a new funding round placing its value at a staggering $11 billion. Oura Health Oy is raising approximately $875 million in a Series E financing round, a figure that could potentially climb beyond $900 million before the round concludes later this month. This new valuation effectively doubles the company’s worth from its previous funding round just last December.
This latest investment will fuel several key strategic initiatives for the wearable technology firm. The capital is earmarked to significantly scale up production capabilities, support a deeper international expansion, and fund ongoing research and product development. The substantial funding injection arrives as the company experiences explosive growth, having sold 5.5 million rings to date, a dramatic jump from the 2.5 million units reported in mid-2024.
Financially, Oura’s performance is equally impressive. The company is on track to generate revenues exceeding $1 billion this year, which would represent a doubling of its 2024 earnings. Looking further ahead, internal forecasts project sales will surpass $1.5 billion by 2026. Several factors are credited for this rapid ascent, including a surge in adoption among female consumers, strong sales through retail store partnerships, the ability for customers to purchase the ring using health savings accounts, and a successful push into new global markets.
(Source: TechCrunch)
