Oura On Track To Becoming An $11B Company

Just a month after opening a manufacturing facility in Fort Worth, Texas, in partnership with the U.S. Department of Defense, health-tracking ring maker Oura is reportedly on track to become an $11 billion company. The Finnish startup, known for its water-resistant smart ring, is said to be raising a $875 million Series E round that would bring its valuation to $10.9 billion, more than doubling the $5.2 billion valuation from its $200 million Series D funding in 2024.

Oura recently announced that it has sold over 5.5 million rings since launching in 2015 and generated more than $500 million in revenue in 2024, twice the amount from the prior year. The company expects to double revenue again this year and surpass $1 billion in sales. It also secured a $250 million revolving credit facility with JPMorgan Chase, Goldman Sachs, Bank of America, Barclays, Citi and Wells Fargo. When asked to confirm the valuation reports, Oura declined to comment, stating that it does not address rumors or speculation about financing.

The company has been steadily expanding its offerings and partnerships. In August, it launched two new products aimed at supporting women through major life stages. Pregnancy Insights delivers personalized tracking of physiological changes, educational resources and daily tools to guide users through pregnancy, while Perimenopause Check-In allows women to monitor symptoms and visualize their health data with in-app care pathways. In June, Oura partnered with Maven Clinic to enable users to sync biometric data such as sleep, stress and activity with the Maven platform, giving care teams deeper insight and offering eligible members exclusive discounts on Oura Rings.

Earlier this year, Dexcom expanded its collaboration with Oura to connect its Stelo continuous glucose monitor with the ring, providing users with meal insights, glucose data and metabolic health features. Stelo, cleared by the FDA in March 2024, is designed for adults who do not require insulin, offering continuous glucose monitoring to support healthier daily decisions. In May, Oura also joined the Digital Medicine Society and several academic and clinical partners in a research initiative that leverages data from consumer wearables to develop interventions aimed at reducing opioid overdose deaths.

Together, these initiatives highlight Oura’s push beyond fitness tracking into women’s health, metabolic monitoring and digital therapeutics, positioning the company as a key player in the rapidly growing digital health space.