Finnish health tech firm, Oura, has raised $900 million in new funding led by Fidelity Management & Research Company, with participation from ICONIQ, Whale Rock, and Atreides. The fresh capital brings the company’s valuation to about $11 billion—more than double its previous round in December. Oura’s CEO, Tom Hale, said the investment reflects growing global trust in the brand’s mission to promote proactive health and empower users to better understand their bodies.
The company plans to channel the funds into artificial intelligence development, product innovation, and global expansion. Oura has sold over 5.5 million smart rings since inception, with more than half of those sales recorded in the past year. Its 2024 revenue surged to $500 million, and it projects sales exceeding $1 billion this year, maintaining over 80% dominance in the global smart ring market, according to IDC.
Oura continues to attract a diverse customer base, with women in their early twenties now forming a key demographic. The company recently launched its Oura Ring 4 and new ceramic variants, along with an optional charging dock, further strengthening its product line.
Expanding beyond wearable tech, Oura introduced Health Panels, a feature that allows users to book $99 blood tests at 2,000 Quest Diagnostics labs in the U.S. Results are displayed in the app, where users can interact with an AI assistant for general insights. The feature positions Oura in closer competition with startups like Whoop and ring makers such as Ultrahuman and Samsung, as it deepens its footprint in the digital health ecosystem