Oura Reaches $11B Valuation, Becomes Europe’s First Health-Tracking Decacorn

Oura, the Finnish health technology company behind the Oura Ring, has raised $900 million in fresh funding, led by Fidelity Management & Research Company, with additional participation from ICONIQ, Whale Rock, and Atreides. This new round values Oura at approximately $11 billion, making it Europe’s first health-tracking decacorn and more than doubling its previous $5 billion valuation.

The company intends to use the capital to advance artificial intelligence and product development, expand its global presence, and create new health features designed to support proactive well-being. The investment will also support Oura’s expansion beyond wearables into personalized health services.

As part of this next phase, Oura appointed long-time board member David Shuman, founder of Lateralus Holdings, as Chair of the Board, succeeding Eurie Kim, who has held the role since 2019.

Founded in 2013 by Petteri Lahtela, Kari Kivelä, and Markku Koskela, Oura began as a Kickstarter initiative to turn biometric data into actionable insights via a ring-shaped wearable. The company has now sold over 5.5 million devices—more than half within the past year—and generated $500 million in revenue in 2024, with projections to exceed $1 billion in 2025. Market research from IDC indicates that Oura holds over 80% of the global smart ring market, far ahead of rivals Ultrahuman and Samsung.

Its latest device, the Oura Ring 4, integrates Smart Sensing technology to provide continuous biometric monitoring. The ring features an 18-path, multi-wavelength photoplethysmography (PPG) subsystem for precise readings on heart rate, HRV, temperature, and sleep metrics. With a titanium-coated design, eight-day battery life, and updated Oura App, it reflects the company’s continued focus on comfort and functionality.

Oura has also diversified its offerings with the introduction of the Oura Ring 4 Ceramic line, the Oura Ring 4 Charging Case, and the Health Panels feature, which allows users to schedule and view lab test results directly in the app through a partnership with Quest Diagnostics. Tests, available for $99 at over 2,000 U.S. locations, mark Oura’s entry into health testing and deeper competition with holistic wellness platforms such as Whoop.

“This new funding is a testament to the strength of Oura’s business and the trust millions of members place in us every day,” said Tom Hale, CEO of Oura. “We’re building a global movement toward proactive health—helping people understand their bodies, make informed lifestyle decisions, and connect with healthcare providers.”

Click here for the original news story.