Oura has completed a $200 million Series D funding round, raising the smart ring maker’s valuation to $5.2 billion.

The round saw participation from Fidelity Management & Research Company and Dexcom, which will fuel Oura’s plans to expand its product offerings, explore additional acquisitions and invest further in AI.

Dexcom — a leader in the medical device space with its advanced glucose biosensing systems — partnered with Oura last month, where smart ring users will be able to integrate Dexcom’s glucose data with vital signs, sleep, stress, heart health and activity metrics from the Oura Ring. The first integration between Oura and Dexcom will launch in the first half of 2025. 

“As we continue to drive momentum and growth, we are bolstered by the additional support of these investors,” Oura CEO Tom Hale said. “We’ve made significant progress in advancing our mission to make health a daily practice and will use this funding to unlock new opportunities, with AI development at the center of our strategy. We know that Oura has the potential to change lives at scale, and we’re excited to continue leading the market in innovation while pursuing opportunities that extend beyond the ring.”

The Series D caps off a stellar year for the wearable leader, with its member base and revenue more than doubling. In November, Oura announced it would acquire Sparta Science, a move that will improve and expand its Oura Teams B2B offering. The deal follows Oura’s acquisition of metabolic health company Veri earlier this fall.

As for what’s ahead “beyond the ring,” Oura appears well-equipped for whatever is next, having onboarded former Apple exec Miklu Silvanto as its new chief design officer this summer. Silvanto was influential in designing several generations of Apple products, including MacBooks, iPad Pro and the Apple Pencil.

“Wearable tech is for anyone who wants to better understand the state of their health and live more optimally, for longer,” Hale said. “We’re committed to continuing our relentless pace of innovation and delivering exceptional value to Oura members, and this new round of funding will enable us to do just that.”

Wearables have rapidly evolved from simple step trackers to constant health monitors. Like Oura, Garmin is optimistic about the space, envisioning a future where wearables become the cornerstone of global healthcare systems, providing doctors with valuable sleep and heart rate data to inform treatment plans. The tech company highlighted the benefits of its devices at its annual health summit in September, emphasizing their long battery life and high-quality biometric sensors.

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Oura is going all-in on quality as it gears up to fight off competition from the likes of Samsung in the red-hot smart ring space. 

On Thursday, the Finnish brand unveiled the Oura Ring 4, which features new and improved sensors designed to offer more accurate readings, longer battery life, and increased comfort for wearers. 

The Oura Ring 4 is highlighted by Smart Sensing, with research-grade sensors housed inside the ring that adapt to the finger to deliver more accurate data for metrics including blood oxygen sensing, breathing, and heart rate. 

Thanks to Smart Sensing, Oura says the newest version of its ring offers notable improvements in overnight blood oxygen measurements (SpO2), breathing disturbance index (BDI), and daytime and nighttime heart-rate tracking. 

The smart sensors are recessed within the Oura Ring 4, which Oura says provides a more comfortable wear. In the Oura Ring Gen3, the previous model, the sensors were housed in a raised dome, meaning many users could feel the sensors while wearing the ring. 

Available for preorder now and set to start shipping October 15, the Oura Ring 4 will retail for between $349 and $499 depending on color and will offer up to eight days of battery life. 

Oura is also redesigning its app to provide users with a more streamlined overview of their overall health picture, including easy access to daily and long-term health metrics like stress and resilience, women’s health, and heart health.

“Oura Ring is designed to be a personal health companion, giving our members a holistic view of their health by pairing personal data with meaningful, actionable insights to facilitate long-term changes,” said Oura CEO Tom Hale. “The next-generation Oura Ring 4, reimagined Oura App, and the development of the Smart Sensing platform represent significant steps forward for wearables across accuracy, comfort, personalization, and design.”

Can Oura Stay on Top?

Oura, which has sold over 2.5 million rings worldwide and is nearing $500 million in annual revenue, has dominated the smart ring market since the brand was founded in 2013.

However, the space has become more crowded as of late, with new brands entering the market as demand rises for smart rings, which track a host of metrics including heart-rate variability (HRV), blood oxygen rate, body temperature, and sleep, and offer a lower profile than smartwatches. 

Samsung made headlines earlier this year when it launched its Galaxy Ring, packing it with features that make it a serious competitor to the Oura Ring. There are rumors that Apple could enter the smart ring space as early as 2025, although that’s still highly speculative. 

With the Oura Ring 4, the Finnish tech company appears to be leaning into its reputation as the “OG” in the smart ring space. With Smart Sensing, Oura wants to make it known that its rings provide the best and most accurate data on the market as users look to track their sleep, steps, and stress more than ever before. 

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Samsung officially launched its highly anticipated smart ring, the Galaxy Ring, at the Galaxy Unpacked event in Paris, positioning the South Korean tech giant to compete with Oura, the biggest player in the smart ring space.

The Galaxy Ring integrates its data and insights into Samsung Health, which utilizes Galaxy AI. For sleep analysis, the ring leverages snoring, sleep movement, sleep latency, and heart and respiratory rate data to assess sleep quality. Cycle Tracking also allows female users to better track their menstrual cycle through overnight skin temperature monitoring. 

Holistic insights and motivational encouragement are provided by Samsung Health through data from the Galaxy Ring. Starting with Galaxy AI, which generates a detailed report on various health metrics, the ring helps users take daily steps to improve their physical condition.

Wellness Tips provide users with personalized messages based on their real-time health needs. The Energy Score feature demonstrates how to leverage daily habits to improve one’s readiness.  

Galaxy Ring also supports broader heart health analyses through its Heart Rate Alert, which provides instant notifications regarding unusually high or low heart rates in real-time. Users can access heart rate information, including beats per minute, time start, and time duration with Live Heart Rate Check.

Galaxy Ring also provides automatic walking and running tracking via Auto Workout Detection, and daily fitness reminders with Inactive Alert. 

“The latest additions to our wearables portfolio integrate Samsung’s most advanced technologies and innovations, enabling you to take control of your health and wellness with preventative healthcare solutions,” said TM Roh, president and head of mobile experience business at Samsung Electronics.

Samsung’s smart ring will be sold for $399.99, which splits the difference between Oura’s $299.99 Heritage ring and the Finnish brand’s $499.99 Horizon ring.

At 7mm wide and 2.6mm thick and between 2.3 grams and 3 grams, Samsung’s ring is slightly lighter than the 4 to 6-gram Oura rings. Unlike Oura, the Galaxy ring doesn’t require a subscription, which could be enticing for consumers wary of additional charges.

Samsung seems committed to securing a place in the smart ring market despite Oura’s entrenched position.

Samsung, Oura Compete in the Courtroom

Earlier this year, Samsung filed a preemptive lawsuit against Oura to prevent potential intellectual property disputes before the Galaxy Ring’s launch. The lawsuit, filed in the Northern District of California, asserted that the Galaxy Ring doesn’t infringe on any of Oura’s patents.

The lawsuit notably highlighted Oura’s media tour following Samsung’s initial announcement of the Galaxy Ring, where the Finnish company emphasized its “over 150 patents.” Samsung also noted that Oura CEO Tom Hale stated, in an interview with CNBC, that it was “very important for us to protect the innovations that we’ve brought to market,” and that “we’ll see whether or not it ( the Galaxy Ring) infringes on (Oura’s technology). And frankly, we’ll take the action that’s appropriate.”

According to industry estimates, the smart ring market could grow to $1 billion or more by the 2030s. Smart rings offer a less intrusive and comfortable way to track health data. While Oura has already carved out a sizeable market, Samsung could make smart rings more mainstream, particularly for Android users.

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Oura and Circular, a French smart ring brand, entered into a settlement agreement to conclude patent litigation in a Texas federal court and the International Trade Commission.

As part of the settlement, Oura has dismissed its claims against Circular for patent infringement and granted Circular a multi-year license to allow the French brand to continue selling its smart rings and accompanying app in exchange for royalty payments.

Financial details of the arrangement weren’t disclosed. 

“Innovation is core to our culture and long-term strategy,” said Tom Hale, CEO of Oura. “The licensing agreement with Circular validates the strength of Oura’s patents and is only possible because of the significant investment Oura has made in research and development.”

“This agreement is a meaningful outcome for our investors, as well as our scientists, developers, and product teams, and all of those at Oura who innovate every day to ensure that Oura Ring provides accurate, actionable insights for our Members,” Hale added.

In March, Hale announced that the company had filed a complaint with the ITC, alleging that Circular along with smart ring brands Ultrahuman, and RingConn infringed multiple Oura patents.

“Unfortunately, when we see companies take shortcuts that imitate and ride the coattails of our innovation, we have no choice but to take action,” Hale had said. 

The complaints against Circular related to the Oura Ring’s form factor and its Readiness Score, a proprietary algorithm the Finnish company developed to provide ring wearers with insights about their physical and mental stress factors.

Oura is no stranger to lawsuits; early this month, Samsung sued the smart ring company to preemptively block any smart ring patent claims. Samsung asked a court to find that the Galaxy Ring doesn’t infringe upon five Oura patents. In the lawsuit, Samsung alleged that Oura has a pattern of aggressive IP protection.

The Galaxy Ring is expected to launch in August 2024

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Tech giant Samsung has filed a preemptive lawsuit against Oura in a strategic attempt to prevent any potential intellectual property disputes before the launch of its highly anticipated Galaxy Ring.

The lawsuit, filed in the Northern District of California aims to ward off potential litigation from Oura, which is known for aggressive IP enforcement. 

Samsung’s suit alleges that Oura’s actions and public statements indicate an intention to challenge any new entrants into the U.S. smart ring market, including Samsung.

“Oura’s immediate response to the announcement of the Galaxy Ring was to point to the purported strength of its intellectual property portfolio,” the lawsuit states.

Samsung asserts that its Galaxy Ring does not infringe on any of Oura’s patents, and the filing outlines what it characterizes as Oura’s pattern of aggressive IP protection, noting that the company has previously sued like Ultrahuman, Circular, and RingConn upon their entries in the U.S. market. 

The lawsuit highlights Oura’s media tour following the Galaxy Ring announcement, where the company emphasized its “over 150 patents.” It also noted that Oura CEO Tom Hale stated, in an interview with CNBC, that it was “very important for us to protect the innovations that we’ve brought to market,” and that “we’ll see whether or not it ( the Galaxy Ring) infringes on (Oura’s technology). And frankly, we’ll take the action that’s appropriate.” 

Samsung has a history of patent disputes with Apple, where it challenged the validity of some of Apple’s patents, deeming them obvious or industry-standard. The legal disputes, which took place over the course of nearly seven years, ultimately resulted in a 2018 settlement between the two companies. 

The Samsung lawsuit against Oura also sheds light on the South Korean tech giant’s launch plans for the Galaxy Ring. According to the legal documentation, Samsung finalized the Galaxy Ring’s design in mid-May 2024 and plans to begin mass production in mid-June. The Galaxy Ring is expected to hit the U.S. market around August 2024. 

Oura has yet to publicly respond to Samsung’s lawsuit. If Samsung succeeds, it could reshape the competitive landscape of the smart ring industry, particularly in increasingly saturated markets like fitness wearables. 

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This article is adapted from a version that originally appeared in ATN’s 2024 State of Fitness & Wellness 2024 report, available for download here

The wearables space is hotter than ever: consumers can now measure everything from sleep to stress, and, increasingly, make sense of those numbers thanks to personalized recommendations. 

Oura and Whoop may be competitors as two of the most prominent brands in the burgeoning wearables space, but their leaders move in lockstep when it comes to identifying the biggest opportunities and challenges facing the market. 

Athletech News spoke with Oura CEO Tom Hale and Whoop founder and CEO Will Ahmed to get their thoughts on where the wearables space is headed and how their brands will help drive that change.

Women’s Health Is a Top Priority

Addressing the unique health needs of females has emerged, albeit belatedly, as a key priority among fitness and wellness brands. Oura and Whoop are playing key roles in advancing women’s health through data insights. 

“Women’s health is a critical area of overall health and wellness that remains largely underrepresented, particularly how women’s bodies adjust during various stages of their life – menstruation, pre- and postpartum, and perimenopause,” Ahmed tells ATN. “Subsequently, females don’t receive adequate, science-backed information to support them during such critical times.

Ahmed pointed to Whoop’s Menstrual Cycle Insights feature, which provides training and sleep recommendations based on women’s cycles, as an important feature in that regard. In January, Whoop published a study in PLOS One, a peer-reviewed academic journal, which analyzed the physiological data of pregnancies. The study found key trends in maternal heart rate variability (HRV) inversion in singleton pregnancies, insights which could lead to being able to better predict delivery dates for premature and full-term pregnancies.

“Understanding this change in HRV has the potential to save lives, reduce medical costs, and provide more insight to expecting parents,” Ahmed says. 

Oura has also emerged as a leader in the growing women’s health movement. The ring maker has introduced Cycle Insights and Pregnancy Insights features, giving women data-backed insights into their menstrual cycles and during pregnancy, respectively. 

Oura has also forged key partnerships with companies including Natural Cycles, Flo, and Gl to enhance the accessibility of health information for women.

“These recent achievements represent Oura’s commitment to women’s health, but they are just the beginning,” Hale tells ATN. “As we continue to innovate and expand our offerings, we remain dedicated to providing women with the ultimate body literacy tool to support their health and well-being at every stage of life.

The Great Data Race

As wearable devices like Oura, Whoop, the Apple Watch and others proliferate, so too does the amount of health and wellness data floating in cyberspace. This presents challenges but also opportunities as tech brands seek to make sense of that data to deliver personalized recommendations to their customers. 

“One of the biggest challenges is the overwhelming volume of data available and improving how we can make it understandable and actionable for people to integrate the insights in a meaningful way,” Hale says.

Oura is working tirelessly to make its data more meaningful and actionable for Oura Ring wearers, Hale assures. 

“By providing members with accurate and personalized physiological insights through cutting-edge sensor technology and research-backed algorithms, Oura provides context that empowers individuals to make informed lifestyle choices,” he says. “Rather than being just a tracker, Oura aims to be a personal health companion that offers insights and suggestions based on a person’s baselines.”

Ahmed says that as data increases, consumers must have more opportunities to access “substantiated, clinically backed solutions tailored to their needs.” 

The Whoop founder also pointed to the prevalence of data privacy concerns, a potential problem that’s been exacerbated by the rise of AI.

“At Whoop, we recognize the importance of offering our members robust, clinically validated support,” Ahmed says. “We leverage cutting-edge performance science data to deliver highly personalized, easily understandable responses tailored to each member’s unique health and fitness journey. By prioritizing accuracy, reliability, and individualized guidance, we aim to address the industry’s need for trustworthy and effective solutions amidst the abundance of health and wellness data available today.”

A Bright Future for Wearables

Looking ahead, the leaders of Oura and Whoop are excited about where the industry is headed as more consumers look to take charge of their health and wellness.

Hale identified an “increased focus on longevity-focused health management” and the “surging demand for personalized wellness solutions” as key industry trends that bode well for Oura and the entire wearables market.

Ahmed pointed to Whoop’s recent introductions of its Whoop Coach AI tool, Stress Monitor and Strength Trainer as examples of the company’s commitment to innovation and commitment to making the “best and most personalized performance tool on the market.”

“Over the years, many have DM’d me on social media to share personal stories about how Whoop has changed their lives, which gives me tremendous hope for the consistent innovations that Whoop is able to provide members to better their health,” he shares. 

Overall, Ahmed is bullish on the future of wearables as technology and research continue to evolve. 

“Access to new technology and research has only increased and grown more efficiently through advancements like AI – the sky’s the limit for where the fitness industry can go,” he adds.

Hale is encouraged by consumers’ increased focus on using wearables to uncover personal insights rather than compare themselves to benchmarks. 

“We’re seeing more emphasis on recovery, rest, and individuality, rather than pushing to meet goals or numbers that exist for the ‘average,’” he says. “That is a good thing!”

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To kick off Women’s Health Month, smart ring maker Oura has launched “Be the Expert in You,” a month-long campaign dedicated to women’s body literacy as it rolls out a number of features dedicated to female health.

The new multi-channel campaign will include launching additional features and studies to promote body literacy for women. 

Oura recently launched features including its Pregnancy Insights tool, which tracks gestational age and provides weekly updates about other physiological changes. The Oura Ring is also the first wearable to integrate with the FDA-cleared birth control app Natural Cycles. 

“Female health conditions receive only one percent of global healthcare research funding, which has created a significant knowledge gap that hinders women from fully understanding basic information about their bodies,” said Dr. Neta Gotlieb, product manager for women’s health at Oura. “For example, a recent survey found that one in four women do not understand their menstrual cycle.”

“Oura is uniquely positioned to be a critical partner for women to close this information gap and become experts in themselves through comprehensive data, personalized insights, and ongoing research on a variety of women’s health topics,” Gotlieb added.

Another update to Oura’s offerings is Cycle Insights, which will provide users with even more information about the details of their menstrual cycles. This will include data on cycle regularity, cycle length and period length to understand patterns and potential irregularities. Oura will also update its Readiness Score to take into consideration natural fluctuations in womens’ cycles, including body temperature, heart rate and heart rate variability. 

“Female physiology differs dramatically from male physiology, which makes it necessary to create algorithms that address the needs of both,” said Holly Shelton, chief product officer at Oura. “We are committed to continuing to improve the Oura experience for our female members by delivering data and insights that accurately and comprehensively explain what’s happening in their bodies every day.”  

Oura will also unveil new research findings about women’s health on May 16^th, at the Women of Wearables Menopause 2.0 Conference.

Oura has partnered with Clue to illustrate the impacts of perimenopause and menopause on women’s health. A recent analysis of Oura member tagging data found that women in the perimenopausal age range, 45-54, are 56% more likely to tag migraines, hot flashes and night sweats. An additional collaboration between Oura and researchers at the University of California, Berkeley, is coming soon. 

Tom Hale, Oura’s CEO, has told Athletech News that the smart ring maker plans to continue investing in women’s health with new features and partnerships. Along with the Natural Cycles integration, Oura has forged key collaborations with companies including Flo and Gl to enhance the accessibility of health information for women.

“These recent achievements represent Oura’s commitment to women’s health, but they are just the beginning,” Hale said. “As we continue to innovate and expand our offerings, we remain dedicated to providing women with the ultimate body literacy tool to support their health and well-being at every stage of life.

Read more about Oura’s plans around women’s health in ATN’s State of Fitness and Wellness 2024 report.

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Samsung officially introduced the Galaxy Ring, its latest innovation in wearables, at the Mobile World Congress (MWC) in Barcelona. The new device marks the South Korean tech giant’s first venture into the smart ring category and the emergence of a key competitor for market leaders like Oura.

The Galaxy Ring comes equipped with a variety of sensors designed to monitor key health metrics such as heart rate, sleep patterns, respiratory rate and the time it takes for a user to fall asleep. The information will populate what Samsung calls “MyVitality Score,” which offers personalized health insights based on these different metrics. 

Despite the arrival of a new competitor, Oura CEO Tom Hale called Samsung’s entry into the smart ring space a positive for the industry as a whole.

“New players entering the space is validation for the category and drives us to aim higher to serve our members and community,” Hale told TechCrunch.

Although Samsung has smartphones and smartwatches, the Galaxy Ring caters to different consumer needs, noted Hon Pak, head of the digital health team at Samsung Electronics.

“Our own customers told us, I want choice. I want the ability to have other forms of wearables to measure health,” Pak told CNBC. “And some want to wear the watch, some want to wear the watch and the ring and get benefit from both. Some just want more simplicity.”

The Galaxy Ring is designed to work seamlessly with Samsung’s smartwatches, providing users with a comprehensive overview of their health when used in tandem. One of the most anticipated features of the ring is its ability to monitor noninvasive glucose levels and blood pressure, a significant advancement in health technology. Samsung is also researching how best to use artificial intelligence to give deeper insights into a person’s health. 

“Imagine (a) large language model, acting as my digital assistant, while looking at the context of my medical records, my physiological data, my engagement with a mobile device, the wearables during all of that … begins to bring greater insights and personalization opportunities,” Pak said. “A digital assistant coach is (…) absolutely needed.” 

The smart ring market could grow to $1 billion or more by the 2030s, according to industry estimates. Samsung’s entrance into the space seems to be a validation of the market’s growth potential.

Oura, the category’s leader by far, has around 100 granted patents, with almost 30 pending patents, which could suggest potential intellectual property disputes down the line between major players.

In addition to brands like Movano (Evie Ring) and RingConn looking to capture market share by offering differentiating features like a focus on women’s health and no subscription fees, there are rumors that Apple could look to enter the space with a smart ring of its own.

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Oura has hired Apple executive Jason Oberfest, who served as an integral member of the Apple Health team since joining the company in 2018 from Mango Health.

Tom Hale, Oura’s CEO, told Bloomberg that Oberfest’s hiring will allow the company to “dive deeper into the healthcare world,” adding that his arrival “marks the start of a new chapter” for Oura. Oberfest will servce as Oura’s vice president of healthcare.

Currently, Oura has health sensors that can gather data like oxygen saturation, heart rate variability, menstrual cycles and sleep cycles. It recently announced new stress management features, providing stress monitoring and an AI-powered journal feature. Oberfest’s hiring is a win for the wearables company, which has stiff competition from products like the Apple Watch and Whoop.

Apple Watch has long had healthcare applications, with recent iterations of the Watch including an FDA-cleared electrocardiogram to help users monitor irregular heart rhythms and potential signs of atrial fibrillation. It can also detect critical health conditions and summons emergency services during accidents like falls.

Now, Oura is expected to similarly expand its capabilities and gain more credibility in the healthcare space.  

It has been a big year for Oura outside of the healthcare sector as well: the company recently hired former Headspace executive Sean Brecker as its new CFO, which came after the brand partnered with Headspace and Thrive Global this year to enhance users’ mental health and sleep management capabilities. The smart ring company also announced a large-scale retail partnership with Best Buy and the acquisition of Proxy, a digital identity startup. Oura also recently forged an agreement with a health e-commerce website to make its ring FSA and HSA eligible.

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Tonal, an AI-powered smart home gym company, is implementing a new way of creating customer satisfaction, partnering with Extend to offer product production on its equipment. Extend, which specializes in tech-enabled product protection solutions, will offer Tonal owners in-home service and repairs, provided they purchase protection plans. 

The program includes four and five-year protection plans that cover accidental damage and electrical failure once the manufacturer warranty ends.

“We are excited to partner with Tonal, a leader in the at-home intelligent fitness space, to contribute to the exceptional customer service they deliver across their community,” said Rohan Shah, co-founder and chief revenue officer of Extend. “By offering product protection through Extend, Tonal will underscore their commitment to consumers across the entire product life cycle and our solution will also drive incremental revenue for the company. Together, we’re excited to make sure that no Tonal customer ever misses a workout!”

Tonal’s Push to Elevate the Customer Experience

Creating the best customer experience is at the heart of Tonal’s mission, from delivery to offering AI-powered workouts so users get quick results. 

Athletech News spoke with Tonal’s new CEO, Krystal Zell, during an exclusive interview for DISRUPT 2023, where she discussed the importance of providing the best for Tonal’s customers and the pride she has for Tonal as the OG in the at-home digital strength training company space.

“We have far superior technology and capabilities, hundreds and hundreds of patents, a completely unique system,” Zell said crediting Tonal for its performance science, coaches and trainers.

“That creates this really best-in-class experience,” she added. “There really are tons of copycats out there, and their product is often very inferior. And quite honestly, truly the other thing is customer service.”

Zell referred to Tonal managing its distribution and being responsible for the entire customer experience.

“We take ownership of that, and we’re very focused on making sure we deliver a great experience end-to-end from order to install and that is not the case for many of our competitors in the market,” she said.

Oura, Others Choose Extend

Extend, which launched in 2019, has also been selected by Oura as the smart ring maker’s leading product protection solution. 

Oura CEO Tom Hale has told ATN that Extend’s platform made it easy for Oura to bring value to its members and its business. Using AI, Extend can quickly resolve claims and provide quick replacement or reimbursement for customers — a major draw for Oura ring owners.

“We’ve found that by enabling quick repairs or replacement, the Extend Product Protection Platform offers peace of mind and helps our members have confidence that this investment will serve them for many years to come,” Hale said.

On top of saving on replacement costs and customer support overhead, Oura and Extend’s other 800 partners receive a portion of each protection plan sale through Extend’s associate model.

Philippe Lambotte, VP of customer care, logistics and field operations at Tonal, also praised Extend’s ability to drive incremental revenue for its partner companies.

“With Extend, we have both unlocked a revenue stream and a scalable way to service customers. Together we will help Tonal customers be their strongest,” Lambotte said.

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Oura has appointed Sean Brecker, formerly of Headspace, as its new chief financial officer.

It’s been a big year for Oura, which announced a large-scale retail partnership with Best Buy and the acquisition of Proxy, a digital identity startup, teasing what may be ahead on the horizon —- possible features such as payments, access, security and identity through the wearable ring. With a reported value of $165 million, the deal fortified Oura’s position in the wearable space, with CEO Tom Hale acknowledging the company now has “the most comprehensive portfolio in the smart ring space.”

Brecker comes to Oura with expertise in the health and wellness industry, having spent a decade at Headspace in various leadership positions, including CEO and CFO where he led the mental wellness company’s $3 billion merger with Ginger. He’s also served as a trader and originator at investment institutions, such as J.P. Morgan, Lehman Brothers and Citigroup.

At Oura, Brecker will lead the company’s financial operations and support its growth, driving financial activities such as capital raising, financial reporting, investor and board relations and corporate strategy.  

“I had known Tom (Hale, Oura CEO) for a couple of years, and when he reached out to me about the CFO position, I was immediately intrigued,” said Brecker of his new position.

From Fan To Financial Officer

Brecker noted that he’d been a fan of the Oura Ring even before his appointment, particularly its gentle encouragement and habit-changing prompts. The wearable even nudged him to take a COVID test after it indicated his body temperature was elevated and his HRV and blood oxygen saturation were in an unusual state. The test concluded that he was positive for COVID right before Brecker was scheduled to leave on a two-week trip to Asia. Because of Oura’s data, Brecker quarantined and started Paxlovid, which he said saved his summer. 

“I’ve always had the utmost respect for Tom, which made the opportunity even more enticing,” Brecker added. “As I got to know the executive team and various members of the board and saw people’s passion about Oura’s mission to impact people’s lives, I became even more excited and motivated.”

Oura Expansion

Oura’s new leadership position comes on the heels of its three new stress management features, providing real-time stress monitoring, an AI-powered journal feature and an upcoming scoring system that assesses how much physiological stress an Oura ring wearer can handle by considering daily stress and recovery.

The company has also partnered with Headspace and Thrive Global, so Oura members can access Headspace content to unwind and Thrive Global to participate in sleep and stress management challenges powered by the smart ring.

Combating stress and promoting mental fitness is a major component of Oura, as demonstrated by a partnership with Talkspace, an online behavioral health company. Announced last month, Oura users can opt to provide their personalized sleep data with licensed therapists. 

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Technology and fitness go hand-in-hand. What would exercise be without wearables, digital guidance, virtual reality, fitness trackers, smart cardio equipment and streaming fitness classes?

But with technology comes a price tag, and inevitably, mechanical and electrical glitches and breakdowns. Parts may need to be repaired and replaced after wear and tear. Further, items purchased online can be damaged, lost or stolen in transit. 

So, a critical piece of the sale process for tech brands is product protection. It’s a necessary evil. Brands must offer peace of mind to consumers who are laying out $200, $300, or $500-plus for a piece of equipment or a wearable.

But what if there was a product protection program that flipped the script? That reimagined antiquated extended warranty and shipping protection programs by eliminating many of the issues customers face with legacy providers, boosting customer confidence and retention. What if it even drove incremental revenue?

Extend is a product protection platform launched in 2019 that is working to do just that. The brand has partnered with over 800 manufacturers across a range of industries, including fitness and wellness.

Oura Chooses Extend

We were intrigued here at Athletech News, so we spoke to Tom Hale, CEO of leading health wearable company Oura, which has aligned itself with the platform, to ask him, “Why Extend?”

“At Oura, we believe in using technology to solve problems. Previously, protection plans made it hard to process claims, perhaps purposely so that people wouldn’t bother with the hassle,” Hale told ATN .“We realize the value of protection plans – and in earning the trust of our members – by making the claims process as frictionless as possible. Based on our work with Extend, it seems that the trends are changing and we’re happy to see it.”

“We were impressed with Extend’s reputation as a top product and shipping technology company and knew that a partnership would bring value to our members,” the Oura CEO adds.

About Extend: Easy Claims & Incremental Revenue

The Extend Protection Plan begins when the manufacturer’s warranty ends. Its AI-driven technology resolves claims and offers speedy replacement or reimbursement resolutions for customers online.

“We’ve found that by enabling quick repairs or replacement, the Extend Product Protection Platform offers peace of mind and helps our members have confidence that this investment will serve them for many years to come,” Hale says.

Further, tech brands can drive incremental revenue with Extend’s unique model that kicks back a portion of each protection plan sale. Manufacturers also save on replacement costs and customer support overhead.

Reducing Customer Acquisition Cost

Oura’s partnership with Extend also encompassed a co-branded Facebook and Instagram campaign featuring Extend Product Protection messaging. 

“We wanted to compare the impact and efficiency of the Extend Product Protection messaging to our existing brand benchmarks,” Hale says of the social media effort. “So our teams worked together to build a marketing campaign.”

The campaign – which addressed consumer concerns and potential reservations associated with buying an Oura Ring – led to significant reductions in overall Customer Acquisition Cost (CAC) and “was so successful, we kept them in the market for over eight months,” Hale notes

Customized Plans

Extend’s technology matches products to customized plans to ensure customers have the right protection after the manufacturer’s warranty runs out.

Hale told ATN that when completing the Oura checkout process, customers have the option to upgrade for a one-time fee to a two- or three-year protection plan, which covers the items offered in the one-year manufacturer warranty plus a host of scenarios ranging from breakage from drops, cracks and collision to damage from power surge or electrical failures. 

“For our business, we’re able to leverage Extend’s industry expertise to offer the extended warranty and satisfy the range of regulations that govern these programs, so that we can focus on our core business,” Hale says.

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Restore Hyper Wellness has selected a winner for its 2023 Technology Award: Wave Neuroscience, which takes a personalized approach to brain care. 

Restore, a quickly growing health and wellness services provider, chose Wave Neuro at its recent annual storeRe conference, honoring the brain care company as an innovative leader with the most potential for adding value to Restore’s clients and studios. The conference, held in Texas,  included a keynote speech by Tom Hale, Oura CEO and was well-attended by Restore executives, science and medical leaders, studio owners, corporate partners, and health and wellness entrepreneurs and experts.

“Wave Neuro is a fitting recipient of the 2023 Technology Award,” said Dr. Richard Joseph, chief medical officer at Restore. “The potential for portable devices that leverage the science of quantitative EEG and transcranial stimulation to support cognitive health is exciting. Wave Neuro is at the leading edge of this nascent but growing industry through its commitment to leading with rigorous scientific research and academic partnerships.”

Simply put, during a ten-minute brainwave recording session, Wave Neuro recognizes the unique frequency pattern inside the brain. The pattern varies from person to person depending on neurophysiology and cognitive condition. The recording is then uploaded to a cloud-based platform and compared against a large database of other recordings. A digital brain image is converted into a report that provides insights and comparisons. If parts of the brain are shown to be underperforming, partners may use the findings to create a patient-specific care strategy and track progress.

In addition to Wave Neuro, two other award nominees were selected for Restore’s 2023 Technology Award:

Canfield – specializes in imaging and visualization solutions for aesthetic professionals. The 7th Generation Visia Skin Analysis System rotates smoothly around the subject, greatly simplifying the imaging process while providing greater comfort for the client. Updated software allows faster image capture with automatic skin type classification and refined facial feature detection.

Pnoe – uses a unique metabolic testing system that combines breath analysis and AI-driven algorithms. Pnoe assesses an individual’s metabolism and provides insights into their fitness level, nutrition needs and optimal training zones.

The finalists participated in the Restore Technology Battle Royale, an event in which each company’s senior leadership presented their technology to the audience and conference attendees experienced and evaluated each device before voting for the winner.

“Wave Neuro winning our first-ever Restore Technology Award is well deserved,” said Steve Welch, Restore’s co-founder and interim CEO. “I can see why our studio owners were so excited about the potential of the Wave Neuro technology, as it truly has the potential to expand the limits of personal health and performance.”

Restore Hyper Wellness, which concentrates on services such as intramuscular (IM) shots, IV drips, cryotherapy, mild hyperbaric oxygen therapy, whole body and localized cryotherapy, infrared sauna, red light therapy, compression, HydraFacial, Circadia and Cryoskin, is planning to open 500 locations by the end of 2024.

In 2021, Restore secured $140 million in funding led by General Atlantic for growth and innovation.

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January AI, a health tech company, has introduced a generative AI-enabled app that evaluates and predicts glucose response to 32 million foods, even when members are not wearing a continuous glucose monitor (CGM). 

While monitoring CGM was once reserved mainly for those with diabetes, ongoing research shows managing blood sugar is elemental to good health and correlates to weight, cholesterol, and inflammation. 

January’s app allows everyday consumers to see the data and impact of food choices ahead of time.

The system, $288 for the first month and then $28 after, allows consumers uncover the complexities of their health data and arm them with information to help them on their journey to health.

The goal of January AI is to support a healthier lifestyle by going beyond glucose prediction and into behavior-shifting, which the tech health company says includes intermittent fasting, increasing fiber consumption, aligning calorie intake with activity level, getting post-meal movement and reducing glucose-spiking foods. 

“Think of it as a weather report. If it only told you it’s already raining, you wouldn’t find it very useful,” said Noosheen Hashemi, who co-founded the health tech company in 2016 with Stanford University’s Director of Genomics, Dr. Michael Snyder, Ph.D. 

January members will enter foods they are considering eating into the app, and the predictive AI model will tell them what the food will do to their blood sugar levels, offering a sneak peek at what may happen if indulging in a snack.

The health tech company says members will be able to see the predicted glucose curve projected up to two hours into the future. 

“It helps them make better decisions about what they’re about to put into their body, kind of like having an AI nutritionist in your pocket to let you know whether you should order a smoothie or an arugula salad, and what happens if you take a 25-minute walk afterwards,” added Hashemi.

The AI-powered app comes at a time when obesity rates are climbing and also at a pivotal moment when consumers are becoming increasingly interested in health and nutrition, which many experts suggest is a result of the pandemic. 

“The metabolic crisis is far more prevalent as an endemic than COVID was as a pandemic,” Dr. Snyder said in a recent interview. “Getting glucose under control is a big, big deal. Nearly 100 million people are walking around with prediabetes, and 90% don’t even know it. If we don’t measure people’s health, does it mean they’re healthy?”

January also can also integrate data from other wellness partners, such as Oura Ring, Apple Health and Fitbit, further analyzing health data to provide valuable insights and recommendations for users.

The app tracks post-meal activity to nudge members to move immediately after eating, which is shown to help lower blood sugar. On the nutrition side, it will provide macros, track fiber intake and give daily reminders so members stay on track to reach their health goals. 

The health benefits can even promote improved sleep habits, which resonated with Tom Hale, Oura CEO. Oura recently acquired a digital ID startup to carve out its own tech advancements with its wearable ring. 

“We are excited to work with companies like January AI to provide sleep insights to their members,” Hale said. “January’s last-meal-sleep-gap helps members gain awareness about how their mealtime choices can affect the quality of their sleep.”

Consumers complete a brief telehealth evaluation to receive a CGM prescription, and once approved, January will deliver the CGM. After the January AI app is downloaded and has enough data to obtain a health baseline, which takes a week, its AI algorithms kick in and provide actionable insights. After two weeks, the platform no longer requires a CGM to display glucose curves, insights and predictions.

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If a leaderboard existed for smart ring companies, Oura would currently be in first place. 

The smart ring maker has acquired Proxy, a digital identity startup, to accelerate its technology offerings in ways that go well beyond tracking activity and sleep. The deal will integrate digital identity technology, Proxy’s specialty, into Oura’s existing hardware and software offerings, bringing opportunities such as payments, access, security and identity to the wearable ring.

Oura said the all-equity deal will include the integration of Proxy’s key full-time employees, including its founders. The deal valued Proxy at $165 million, according to a report from Bloomberg.

Proxy offers powerful tech

Proxy offers digital identity signal technology, enhancing data privacy. The company has been working to advance its biometrically linked digital technology from mobile phones to wearables. 

Denis Mars, co-founder and CEO of Proxy said his tech company has been “hustling in stealth mode” to develop a wearable with biometric authentication and security technology for a “wave to pay” future.

“By joining Oura, the smart ring leader, we can change the game,” Mars said.

As for Proxy’s stealth mode, in 2020, the company acquired Motiv, a fitness and sleep tracker smart ring startup. Motiv caught the eye of the digital ID company for its advancements, such as a gait analysis system, a biometric ID that enabled the Motiv ring to identify a user by the way they walked with over 90 percent accuracy. 

But it was Motiv’s capability, in which the ring was used as a two-step verification process when logging into supported services, that was especially appealing to Proxy — and one that it promised to expand.

Of the deal to acquire Motiv, Mars wrote that he saw the potential of “man-machine symbiosis,” with a wearable ring designed to be worn 24/7 that can continuously confirm identity and augment personal preferences while securing credentials.

As a result of the acquisition, Proxy was able to capture Motiv’s patents and technology.

Oura is looking to the future

For Oura, the deal to acquire Proxy expand’s the smart ring company’s foothold in health wearables and signals its forward-thinking ambitions, according to its CEO, Tom Hale.

“With the acquisition of Proxy, we have the most comprehensive portfolio in the smart ring space,” Hale said.

The wearable tech company says women’s health, illness detection, sleep, stress and mental health are key areas for research and development. As the healthcare landscape continues evolving, blockchain, encryption and digital identity will become essential to securing data privacy, according to Oura COO Michael Chapp.

“Continuous health data collected through wearable technology is the key to enabling personalized, precision care that will usher in a new era for the healthcare industry,” said Chapp. “Oura is a mission-driven culture, boldly pursuing the healthcare space, and we’re excited about the opportunities this acquisition will help to unlock.”

In addition to the Proxy acquisition, Oura recently celebrated its tenth anniversary, announced a new Medical Advisory Board and introduced its first large-scale retail partnership with Best Buy.

Last year, the smart ring maker sold its millionth smart ring and announced a capital raise at a $2.55 billion valuation. 

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Oura, the creator of an innovative smart ring that offers personalized health data, insights and daily guidance, announced a partnership with Best Buy that includes a major in-store component.

It’s Oura’s first nationwide retail expansion, and its smart rings are now available in over 850 Best Buy stores in the U.S. and on BestBuy.com.

The wearable technology, founded in Finland, has raised over $350 million and is valued at $2.55 billion. Now the brand is pushing into the brick-and-mortar retail sector, which it says is a natural next step and signals a pivotal moment for Oura’s business as it continues its brand expansion.

“Introducing more people to the benefits of Oura’s technology and providing an impactful in-store and online experience with the help of Best Buy is an exciting step forward for us as a company,” said Oura CEO Tom Hale.

Select Best Buy locations will carry top-selling Oura ring colors and styles, including Heritage Black, Horizon Silver, Horizon Stealth and Horizon Gold. All sizes and styles are available on BestBuy.com. 

Visiting a Best Buy in-person versus exploring the Oura smart rings online brings some added benefits, though. Shoppers, 70% of whom live within ten miles of a Best Buy location, can ensure they get the perfect fit after trying on a smart ring in-store. 

The in-store experience will also showcase the Oura Ring and the value of its associated membership, with education-based visual displays that bring the rings to life with videos, information and the ability to see and touch the smart rings up close. 

“There’s been incredible innovation in the wearables space, and we know our customers are excited to utilize technology to enhance their health and wellness,” said Frank Bedo, a senior vice president at Best Buy. “Oura Ring is a natural fit for us as we continue to bring our customers the latest innovations in health technology.”

As for health and wellness, Oura recently launched sleep-tracking features so users can better understand sleep cycles and even discover their individual chronotype, which reveals whether an Oura owner is a morning or night person, or perhaps falls somewhere in the middle.

Oura has also transitioned into the corporate wellness space with Oura for Business, offering employers the ability to dig deeper into understanding and enhancing the health and wellness of their employees.

The brand has participated in various partnerships, including collaborations with Gucci and Therabody.

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Our stress loads and sleep deprivation is at an all-time high and costly for employers and organizations, says Finland-based Ōura, a wellness company that has launched the Ōura Ring, a smart ring with personalized health data and insights. 

In response, the wellness tech brand has developed a corporate wellness employer program: ŌURA For Business. The launch of the new ŌURA branch coincides with the continued popularity of wearable technology, as brands like Apple and Google scramble to become a category leader in what is said to be the top fitness trend of this year.

Through connected technology, ŌURA For Business will enable employers to dig into understanding and improving their employees’ health and well-being. With personalized insights, individuals can improve their health, while leaders will be provided custom tools and tailored recommendations to improve health outcomes for members of its organization.

Earlier this year, the company, which has fans such as Jack Dorsey and Prince Harry, celebrated the sale of its millionth Ōura Ring and announced a $2.55 billion valuation.

ŌURA has also been focused on being fashion-forward, partnering with Gucci to introduce a luxe 18k smart gold ring.

The new organizational-centered branch of ŌURA serves more than just businesses, but those in healthcare, higher education, athletics, and the military. ŌURA For Business has provided actionable insights to Thrive Global, US Air Force, US Navy, US Army, NASA, Red Bull Racing, NASCAR, USA Surfing, Noom, OWN IT, University of Vermont, Clemson University, and the UFC.

“ŌURA For Business fundamentally improves how organizations of all kinds can support their people,” said Tom Hale, ŌURA CEO. “Helping individuals thrive is how we create success and positive outcomes for society as a whole. We’ve already seen significant traction with enterprise customers and are excited to continue growing these offerings as part of the next phase in ŌURA’s evolution.”

Well-rested and active staff will result in a happier and more effective organization, ŌURA says. Programs can be adjusted to meet the needs of a business or organization, while core offerings include the ŌURA Ring and its accompanying app, the ability of administrators to see anonymous health metrics like sleep, readiness, and activity scores, expert guidance to take actionable measures based on metrics and best practices, and events like webinars, seminars, and fireside chats.

“The Ōura Ring is an incredibly useful well-being partner. I’ve seen the results in everyone who wears it,” said Arianna Huffington, Founder & CEO, Thrive Global. “The data and insights I get from ŌURA make it so much easier to get the rest I need and build resilience. In a time of increasing stress and burnout, ŌURA makes better well-being a reality.”

ŌURA has been investing in academic and clinical research to investigate early illness detection, improving mental health, sleep patterns, and the impact of pregnancy. A study at the University of Vermont is underway to examine 600 first-year students using the Ōura Ring. 

“We’re excited to see how the Ōura Ring can offer insight into the well-being of students, and how well these metrics match students’ perception of their health,” said Laura Bloomfield, Postdoctoral Fellow with the Vermont Complex Systems Center and the Gund Institute for Environment. “Starting college can have a profound impact on student health, and our hope is to find ways to support these individuals.”

The connected tech brand has also seen its impact on student athletes when it comes to physical activity and recovery.

“The Ōura Ring has become an integral part of our team’s culture,” said Jena Ready, Director of Strength and Conditioning for Women’s Basketball, Clemson University. “It has enhanced our individual players’ recovery and allows us to make more informed decisions based upon the data we receive from Ōura Teams. Not only has our performance as a team grown tremendously, our athletes’ individual health, both physical and mental, has improved largely in part due to ŌURA.”

Looking ahead, ŌURA says it plans to release Improved Sleep Staging to allow its users to understand how sleep changes overnight.

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