Oura raises USD $900 million to drive innovation & global growth
Oura has announced that it has raised over USD $900 million in Series E funding to support global expansion and investment in health innovation, valuing the company at approximately USD $11 billion.
The funding round was led by Fidelity Management & Research Company, with new investor ICONIQ joining and additional capital from Whale Rock and Atreides. The company aims to use these resources to accelerate artificial intelligence development, expand its global distribution channels, and develop new health features for its wearable technology platform.
Growth strategy
This latest investment follows a period of significant momentum for Oura. The company reports having sold more than 5.5 million Oura Ring devices since its first product launch in 2015, noting that over half of those sales occurred in the past year. Revenue for 2024 exceeded USD $500 million, with the business expecting to double that figure in 2025 and surpass USD $1 billion in annual sales while expanding profitability.
"This new funding is a testament to the strength of ŌURA's business and the trust millions of members place in us every day," said Tom Hale, chief executive officer at ŌURA. "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. Today, our technology supports consumers, employers, insurers, and clinicians working together to advance preventive health at scale. With this investment, we will accelerate innovation, expand our global reach, and set a new standard for what wearables can achieve in advancing preventive health."
The company is investing heavily in artificial intelligence-enabled product development and the rollout of new features. These enhancements aim to reinforce Oura's role as a health platform for not only consumers but also employers and clinicians, supporting the broader use of wearables within preventive health and wellness frameworks.
Leadership changes
As part of its evolving strategy, Oura has announced that David Shuman, founder of Lateralus Holdings and an Oura board member since 2016, will assume the role of Chair of the Board, succeeding Eurie Kim, who has held the position since 2019. Kim reflected on the transition, stating, "David has been a wonderful board partner to me during my tenure as chair and I look forward to continuing to collaborate with him as we help ŌURA reach its potential."
Tom Hale also commented on the change in board leadership, noting, "Eurie and David have been instrumental in OURA's success. Since joining the board in 2019, Eurie has been a trusted partner as we've rapidly grown our consumer awareness. I look forward to her continued guidance on the board through the company's next phase of growth. Oura has benefited greatly from David's leadership and good judgement across long-term strategy, fundraising, recruiting, partnerships, and corporate development-and I know he'll be instrumental in our continued success and growth as we enter our next chapter."
Oura's board will further expand with the upcoming nomination of Wen Hsieh, founding managing partner at Matter Venture Partners. Hsieh brings extensive experience in technology investment and domain expertise in fields such as battery technology, custom silicon, and intellectual property.
"ŌURA's growth and impact over the past year have been truly remarkable," said David Shuman. "The company has doubled revenue, expanded its global reach, and delivered transformative solutions that are reshaping the wearables industry. I am grateful to Eurie for her leadership and wise counsel through this period of incredible growth. I'm also thrilled for Wen's upcoming nomination to the board. He brings a wealth of knowledge regarding battery technology, custom silicon, and intellectual property that will support Oura's mission to make health a daily practice."
Product development
The company's recent launches include the Oura Ring 4 Ceramic in new colourways, a dedicated charging case for the Oura Ring 4, and Health Panels. Health Panels enable users to schedule and view lab test results directly within the Oura App, which the company describes as a first-of-its-kind integration. Oura continues to target both individual and corporate markets, offering solutions that are intended to connect daily health insights with longer-term wellness outcomes.
Oura's data-focused approach and partnership network is intended to move healthcare away from reactive models towards a more preventive, wellness-oriented practice. The company now counts more than 1,000 ecosystem partners and supports a diverse user base across consumers, employers, insurers, and healthcare providers, as well as research teams and organisations.
