Oura is looking at new products and AI, after a new round of funding saw it valued at $5.2bn
After years of wearable technology companies eating each other, Oura has been a beacon of success. And the company is now looking at new products, amid a new injection of cash and stonking valuation.
Oura has announced a $200 million Series D funding round and raised its valuation to $5.2 billion.
This funding round was led by Fidelity Management & Research Company, and includes Dexcom’s previously announced $75m cash injection and partnership with Oura for metabolic health tracking via a two-way transfer of data.
In a statement, the company said that the funding would “Allow Oura 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.”
Recently, Oura surpassed 2.5 million rings sold, doubling its member base and revenue, and launched the Oura Ring 4. It also acquired metabolic health firm Veri, signed a $90m+ deal with the Pentagon, snapped up enterprise health tracking software from Sparta Science, and signed a partnership with Dexcom.
Oura CEO, Tom Hale, emphasized the company’s focus on innovation and AI as part of its strategy to scale:
“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.”
Wareable says
Oura has become synonymous with its smart ring — but the form factor is still niche. Could we see different form factors from Oura emerge, as it looks to expand its reach within wearables? That would be really interesting.
It’s certainly been Oura’s year — and I feel it’s broken out into the mainstream. With huge deals in retail to massive billboard ads, it feels like the rise of Fitbit. It’s still early days, but a stonking $5.2bn valuation is a sign that Oura is doing the right things — what will be its next move?
