Oura Secures $900M to Boost Smart Ring Technology and Global Reach
Finnish health tech company Oura has raised $900 million in new funding led by Fidelity Management & Research Company, with participation from new investor ICONIQ and contributions from Whale Rock and Atreides. This latest round values the company at approximately $11 billion, more than double its valuation from the previous year.
The investment will support advancements in AI-driven innovation, new health features, and improved global distribution. Through these initiatives, Oura aims to enhance product performance and strengthen its leadership in the wearable health technology space.
Continued Growth and Market Dominance
Oura has sold more than 5.5 million smart rings since its launch, with over half of those sales occurring in the past year. As a result, its revenue more than doubled in 2024, reaching $500 million. The company expects to surpass $1 billion in sales this year. According to IDC, Oura currently holds over 80% of the global smart ring market, underscoring its strong position in the industry.
The company continues to expand its user base across multiple demographics, driven by growing demand for personal health monitoring solutions. Its focus on innovation and user experience has contributed to consistent global growth despite increasing competition in the wearable technology market.
Expanding into Comprehensive Health Services
Last October, Oura introduced its fourth-generation smart ring, followed by the launch of ceramic versions and an optional charging dock earlier this month. These product updates highlight the company’s commitment to design and usability improvements.
Beyond hardware, Oura is entering the broader health ecosystem. The company recently launched Health Panels, a feature within its app that allows users to book a $99 blood test at one of 2,000 Quest Diagnostics labs across the U.S. Users can view their test results directly in the app and engage with an AI assistant for general wellness insights.
This move places Oura in competition with startups like Whoop and ring makers such as Ultrahuman and Samsung. As it diversifies, the company continues to shape the evolving intersection of wearable technology and personalized healthcare.
