Oura Valued at $5B Following Deal With Medical Device Firm Dexcom

Smart ring maker Oura has secured a $75 million investment from glucose monitoring device manufacturer Dexcom, as announced on Tuesday. This investment represents Oura's Series D funding round and raises the company's valuation to over $5 billion.

The collaboration aims to integrate Oura’s rings with Dexcom’s devices and apps, enabling users to monitor their blood sugar levels in the future. The first app integration resulting from the partnership is expected to launch in the first half of 2025.

“Oura members are highly interested in understanding how their dietary choices affect their health,” said Oura CEO Tom Hale in a press release. “This partnership with Dexcom will help empower our members to make informed decisions and adopt behaviors that positively influence their biometrics and long-term health.”

“Collaborating with ŌURA allows us to redefine the category by merging data from Dexcom glucose biosensors with the continuous metrics provided by the Oura Ring,” said Matt Dolan, Dexcom's executive vice president of strategy and corporate development. “This partnership will attract a new audience interested in understanding the interplay between activity, sleep, nutrition, and glucose.”

The partnership also includes plans for co-marketing and cross-selling the companies’ products. Oura, which has sold 2.5 million rings to date, expects its annual sales to double to approximately $500 million in 2024 and has reported being profitable.

This announcement comes as Apple continues its efforts in developing noninvasive glucose monitoring technology. According to a recent Bloomberg report, Apple is testing an app for prediabetes management, which could potentially pave the way for integrating noninvasive glucose monitors into future Apple products

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