Finnish smart ring maker Oura announced it has raised over $900 million in funding led by Fidelity Management & Research Company, with significant participation from new investor Iconiq and contributions from Whale Rock and Atreides.
Oura said the investment, valuing the firm at $11 billion, will fuel continued growth and development of new health technologies that “empower millions of people worldwide to live healthier, longer.”
Oura said it plans to use the new funding to accelerate AI and product innovation, expand global distribution, and invest in development of new health features, “cementing its position as the leading platform” for proactive health.
Founded in Finland in 2013 and now headquartered in San Francisco, Oura has now raised $1.5 billion.
“This financing reflects Oura’s incredible momentum, coming on the heels of the company’s announcement that it has sold more than 5.5 million Oura Ring devices since its 2015 debut—with more than half of those sales occurring in the past year alone,” said Oura.
“The company reported revenue of more than $500 million in 2024, doubling its growth from the prior year, and is on track to double revenue again in 2025, surpassing $1 billion in annual sales while continuing to expand profitability.”
Oura CEO Tom Hale said: “This new funding is a testament to the strength of Oura’s business and the trust millions of members place in us every day.
“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.”
Oura also announced David Shuman, founder of Lateralus Holdings and Oura board member since 2016, as its new chair of the board, succeeding Eurie Kim, who has served in the role since 2019.
“David has been a wonderful board partner to me during my tenure as chair and I look forward to continuing to collaborate with him as we help Oura reach its potential,” said Eurie Kim.
Hale said: “Eurie and David have been instrumental in Oura’s success. Since joining the board in 2019, Eurie has been a trusted partner as we’ve rapidly grown our consumer awareness.
“I look forward to her continued guidance on the board through the company’s next phase of growth.
“Oura has benefited greatly from David’s leadership and good judgement across long-term strategy, fundraising, recruiting, partnerships, and corporate development—and I know he’ll be instrumental in our continued success and growth as we enter our next chapter.”
The company will also expand its board of directors with the upcoming nomination of Wen Hsieh, founding managing partner at Matter Venture Partners. An electrical engineer by training, Hsieh has extensive HardTech investing and domain knowledge, having served as a managing partner at Kleiner Perkins and serving as chairman of the board at Ambiq Micro.
“Oura’s growth and impact over the past year have been truly remarkable,” said Shuman. “The company has doubled revenue, expanded its global reach, and delivered transformative solutions that are reshaping the wearables industry.
“I am grateful to Eurie for her leadership and wise counsel through this period of incredible growth. I’m also thrilled for Wen’s upcoming nomination to the board. He brings a wealth of knowledge regarding battery technology, custom silicon, and intellectual property that will support Oura’s mission to make health a daily practice.”