Oulu, Finland-based Oura, a company behind Oura Ring, on Thursday announced that it has secured $200M (approximately €192M) in Series D funding at a valuation of over $5.2B.
The latest funding round was led by Fidelity Management & Research Company and Dexcom.
The Finnish company will use the funds to expand its product offerings, fuel further investment in product, science, and healthcare innovation, including AI, advance global expansion efforts and explore additional acquisitions to accelerate growth.
The announcement comes around a month after raising €71M in a Series D funding round.
Additionally, the Finnish company also partnered with DexCom to help people improve their metabolic health by integrating Dexcom glucose data with vital signs, sleep, stress, heart health, and activity data from Oura Ring.
“As we continue to drive momentum and growth, we are bolstered by the additional support of these investors,” says Tom Hale, Ōura chief executive officer.
“We’ve made significant progress in advancing our mission to make health a daily practice and will use this funding to unlock new opportunities, with AI development at the center of our strategy. We know that Ōura has the potential to change lives at scale, and we’re excited to continue leading the market in innovation while pursuing opportunities that extend beyond the ring,” adds Hale.
The funding comes as the company recently surpassed 2.5 million rings sold and has seen its member base and revenue more than double over the past year.
This year, ŌURA expanded its retail presence globally with new retail partnerships such as Amazon and Target and grew its commercial business with expanded military partnerships, including the Naval Health Research Center (NHRC), the Air Force, and the Defense Innovation Unit.
Further, thee Finnish company announced the acquisitions of Sparta Science and Veri, a first-of-its-kind partnership with Medicare Advantage provider Essence Healthcare.
Oura Ring: Pioneering health and wellness
Founded in 2013 by Kari Kivelä, Markku Koskela, and Petteri Lahtela, Oura Ring is a smart ring fitted with sensors to measure users’ sleep patterns, track their activity, and measure their body temperature.
The smart ring provides users with actionable insights to optimise their health and performance through sleep, activity, readiness, stress, resilience, women’s health, and heart health.
The company has launched a new feature called Meals in Oura Labs, allowing users to track their meal timing and connect it to their chronotype.
This feature helps illustrate how meal timing and choices can affect sleep, stress, and recovery.
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