Oura Ring Secures $200M, Valuation Soars to $5.2B
Oura, the smart ring maker, announced it has secured $200 million in a Series D funding round, bringing its valuation to $5.2 billion. The funding round included participation from Fidelity Management and glucose monitoring device maker Dexcom.
Expansion Plans and AI Focus
Oura says the new capital will be used to expand its product offerings and further invest in product development, science, and AI. The funding will also support potential acquisitions to strengthen its ecosystem.
The announcement comes just a month after Oura and Dexcom revealed a strategic partnership. The collaboration aims to integrate Oura rings with Dexcom’s glucose monitoring devices and apps, helping users better track their blood sugar levels. Dexcom also contributed $75 million to the Series D funding as part of this partnership.
“We’ve made significant progress in advancing our mission to make health a daily practice,” said Oura CEO Tom Hale. “This funding will unlock new opportunities, with AI development at the center of our strategy. Oura has the potential to change lives at scale, and we’re excited to lead the market in innovation.”
Strong Growth and Acquisitions
Oura’s smart rings have seen impressive adoption, with over 2.5 million units sold to date. Over the past year, the company has doubled its revenue and member base, signaling significant growth.
In 2024, Oura expanded its retail footprint by partnering with Amazon and Target to bring its products to a broader audience. It also secured partnerships with the Naval Health Research Center, the Air Force, and the Defense Innovation Unit to provide health tracking tools for U.S. service members.
Oura has been on an acquisition spree, acquiring two startups in recent months:
- Sparta Science – A Bay Area-based health tracking company (October).
- Veri – A Helsinki-based metabolic health startup (September).
Future Outlook
Oura’s focus on innovation, AI, and strategic partnerships positions it as a leader in the growing wearable health tech market. With its expanded offerings and collaborations, Oura is paving the way for smarter health tracking solutions that go beyond the ring.
