Oura’s raising a mega-round.
What’s happening: The Finnish smart ring maker is reportedly closing in on a $875M+ Series E that would value the company at $11B, per Bloomberg.
Flush. Doubling revenue for three consecutive years, Oura has now sold 5.5M rings to date, including 2.5M in the last year alone. Selling in 4K+ retailers across 12 countries, it’s also the fastest-growing brand on Amazon.
Walking on clouds. Since debuting its fourth-gen hardware last year, Oura has been pushing software upgrades, syncing Dexcom CGMs, integrating Maven Clinic care plans, and piloting an AI health coach.
With ~20% revenue coming from subscriptions, CEO Tom Hale envisions a “cloud of wearables” informing a Personal Health OS. Counting 11% of users in healthcare, clinician adoption could unlock new partnerships.
Lord of the rings. Stymying competitors, Oura won an ITC ruling over Ultrahuman and RingConn, bolstering US market share, while its forthcoming Texas facility improves capacity, reduces tariff burden, and supports its US DoD contract.
Looking ahead: As rivals race to keep the smart ring wars alive, Oura is rallying support—and capital—to upend healthcare.
