""This new funding is a testament to the strength of Oura 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," CEO Tom Hale said in a statement."
"Oura has sold over 5.5 million smart rings since launch. The past year has been particularly fruitful for the company, providing more than half of those sales. The smart ring maker more than doubled its revenue in 2024, raking in $500 million. The company expects the trend to continue this year, with sales likely to cross $1 billion. According to a report from IDC published last year, Oura holds more than 80% of the smart ring market."
Oura raised $900 million in fresh funding led by Fidelity Management & Research Company, with participation from ICONIQ and contributions from Whale Rock and Atreides. The funding values the company at approximately $11 billion, more than double its December valuation. The company plans to use proceeds for AI and production innovation, to introduce new health features, and to improve global distribution. Oura has sold over 5.5 million smart rings, with more than half of those sales in the past year. Revenue more than doubled in 2024 to $500 million, and sales are likely to cross $1 billion this year. Oura launched Oura Ring 4 last October and added ceramic versions plus an optional charging dock. Women in their early twenties are emerging as a core market. Beyond hardware tracking, Oura is venturing into health tests.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]