Oura raises $900 million in funding at $11 billion Valuation to become the Apple of preventive health

ŌURA, the Finnish health tech startup best known for its Oura Ring, has raised more than $900 million in new funding at an $11 billion valuation — a staggering leap for a hardware company once dismissed as niche. The round, announced Tuesday, was led by Fidelity Management & Research Company, with new investor ICONIQ joining alongside Whale Rock and Atreides. It brings Oura’s total funding to roughly $1.5 billion.

Over the past decade, Oura has quietly become one of the most influential names in wearables. What began as a simple sleep-tracking ring has grown into a billion-dollar force redefining preventive health and personal wellness.

The new capital gives Oura a wide runway to push deeper into health monitoring and AI-driven personalization. The company plans to expand globally and invest in new products aimed at preventive care, positioning itself as more than just a sleep tracker brand. CEO Tom Hale called the investment “a new chapter” for Oura, saying it will “accelerate innovation, expand our global reach, and set a new standard for what wearables can achieve in advancing preventive health.”

“This new funding is a testament to the strength of ŌURA’s business and the trust millions of members place in us every day,” ŌURA CEO Tom Hale said in a statement. “We’re proud to be building not just a product, but a global movement toward proactive health—helping people understand their bodies, make better lifestyle decisions, and connect more effectively with their healthcare providers. Today, our technology supports consumers, employers, insurers, and clinicians working together to advance preventive health at scale. With this investment, we will accelerate innovation, expand our global reach, and set a new standard for what wearables can achieve in advancing preventive health.”

From Sleep Tracking to $11 Billion: Oura’s Massive $900 Million Bet on Preventive Health

Oura has come a long way since its early crowdfunding days. The company said it has sold more than 5.5 million Oura Rings since its 2015 debut — more than half of them in the past year alone. Revenue doubled in 2024 to surpass $500 million and is expected to reach $1 billion in 2025, marking a rare profitability streak for a consumer hardware startup.

The company’s growth is fueled by its shift from a sleep-focused gadget to a full-fledged health platform. Recent updates include Health Panels, a new feature that lets users schedule lab tests and view results directly in the Oura App, and AI Advisor, which provides personalized health suggestions based on over 50 tracked biomarkers. Oura has also partnered with glucose-monitoring firm Dexcom to merge glucose data with biometrics from the ring — giving users a more complete view of their metabolic health.

Competition in the smart ring space is heating up. Samsung, RingConn, and Whoop have all entered or expanded in the category, while Apple continues to dominate broader wearables. But Oura’s focus on precision health and data accuracy has given it an edge — one that investors believe can turn it into the go-to platform for preventive wellness.

As part of its next phase, Oura is shaking up its leadership team. David Shuman, founder of Lateralus Holdings and a longtime board member, is taking over as Chair of the Board, succeeding Eurie Kim. The company also plans to add Wen Hsieh, founding partner at Matter Venture Partners and former Kleiner Perkins managing partner, to its board. Hsieh brings deep expertise in battery technology and semiconductor design — key areas for a company that’s betting its future on hardware innovation and AI integration.

Oura’s latest hardware expansion includes the Oura Ring 4 Ceramic in new colors, the first Oura Ring Charging Case, and enhanced integrations aimed at linking daily wearables with long-term health outcomes. Together, these moves show a company evolving from a consumer gadget maker into a broader health ecosystem.

For Oura, this $900 million round is more than just another funding milestone — it’s a signal that preventive health is becoming one of the most lucrative frontiers in consumer tech. As the smart ring market matures, Oura’s challenge will be staying ahead of the giants now circling the space.