Oura Hits $5.2B Valuation
The smart ring maker’s $200 million Series D will help the wearable leader pursue opportunities “beyond the ring,” Oura CEO says
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.
