Oura, a Finnish company specializing in health technology, has secured $900 million in new investment, with Fidelity Management & Research Company leading the round. New investor ICONIQ also joined, along with Whale Rock and Atreides.
According to the company, this latest funding round brings its valuation to “around $11 billion,” which is more than twice its valuation from the previous round in December. Bloomberg had earlier reported that Oura was finalizing new funding at this $11 billion valuation.
“This latest investment highlights the robustness of Oura’s business and the confidence that millions of users have in us every day. We’re excited to be creating more than just a product—we’re driving a worldwide shift toward proactive health, empowering people to better understand their bodies, make healthier choices, and engage more closely with their healthcare professionals,” CEO Tom Hale shared in a statement.
Oura informed TechCrunch that the capital will be directed toward advancing AI and manufacturing, rolling out new health-related features, and expanding its international reach.
Since its inception, Oura has sold over 5.5 million smart rings. The last year has been especially successful, accounting for more than half of those sales. In 2024, the company’s revenue more than doubled, reaching $500 million. Oura anticipates this momentum will continue, with sales expected to surpass $1 billion this year. IDC’s report from last year indicated that Oura controls over 80% of the smart ring sector.
The company is also attracting a broader range of customers. At the Elevate conference in Toronto earlier this week, Dorothy Kilroy, Oura’s chief commercial officer, noted that women in their early twenties are emerging as a significant customer group.
Oura introduced its newest product, the Oura ring 4, in October of last year. This month, the company also unveiled ceramic versions of the ring and a new optional charging dock.
Expanding beyond wearable health devices, Oura is moving into health testing. This month, the company rolled out a new app feature called Health Panels, allowing users to schedule a $99 blood test at any of 2,000 Quest Diagnostics locations across the U.S. While Oura does not offer medical advice, users can view their results in the app and receive general recommendations from its AI chatbot.
With this blood testing service, Oura is now competing with startups such as Whoop, which launched a similar feature this month, as well as other smart ring companies like Ultrahuman and Samsung.
