Finnish healthtech company Oura has raised $900 million in fresh funding, led by Fidelity Management & Research Company, with new backing from ICONIQ, Whale Rock, and Atreides. The round values Oura at around $11 billion, more than double its valuation of $5 billion when it raised $200 million.
Oura plans to use this fresh capital to accelerate AI and product innovation, expand its global distribution, and develop new health features that empower millions worldwide to live healthier, longer lives. The funding will also fuel continued growth and the creation of new health technologies, strengthening its position as the leading platform for proactive health.
In addition, as part of the company’s continued growth, ŌURA announced David Shuman, founder of Lateralus Holdings and Oura board member since 2016, as its new Chair of the Board, succeeding Eurie Kim, who has served in the role since 2019.
Dominates the smart ring charts
Founded in 2013 by Petteri Lahtela, Kari Kivelä, and Markku Koskela, Oura began as a Kickstarter project dedicated to transforming biometric data into actionable health insights through a sleek ring worn on the finger.
Since its launch, Oura has sold over 5.5 million smart rings, with more than half of those sales coming in the past year alone. The company generated $500 million in revenue in 2024 and expects to cross the $1 billion mark this year. According to IDC, Oura now commands over 80% of the global smart ring market, an impressive lead over competitors like Ultrahuman and Samsung.
Its latest innovation, the Oura Ring 4, launched last October, is built around Smart Sensing, a breakthrough technology that adapts to your unique physiology to deliver accurate, continuous data. The multiple sensors inside the ring form an 18-path multi-wavelength photoplethysmography (PPG) subsystem to provide highly accurate, continuous biometric data, including resting heart rate, sleep stages, heart rate variability (HRV), temperature trends, and more, throughout the day and night.
Featuring recessed sensors and a fully titanium inner and outer coating, it is sleeker and more comfortable than ever to wear all day long, from workout to night out. Users will experience upgrades to several features, including Daytime Stress, Automatic Activity Detection, and Cycle Insights, as well as a newly redesigned Oura App. It delivers up to eight days of battery life on just a single charge, and fully charges in up to 120 minutes, depending on the current battery level.
The company recently introduced a major product expansion with Oura Ring 4 Ceramic in striking new colors, as well as the company’s first hardware accessory, the Oura Ring 4 Charging Case, and Health Panels, a first-of-its-kind integration, which allows members to schedule and see the results of their lab tests directly in the Oura App.
Expanding beyond hardware
Oura isn’t stopping at wearables. The company has entered the personalised health testing space with its new Health Panels feature, allowing users to book blood tests for $99 through over 2,000 Quest Diagnostics labs in the U.S. The results appear directly in the Oura app, enabling users to interpret their data and receive general lifestyle recommendations. This strategic move brings the company into closer competition with Whoop and other holistic health platforms, positioning it as an all-in-one wellness companion.
“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.”
“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,” added Tom Hale. “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.”
“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,” said Eurie Kim.
“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.”
