Smart Ring Pioneer Oura Raises $900M, Projects Revenue to Exceed $1B in 2025
Finnish-American company Oura has raised over $900 million in a new funding round. The round was led by Fidelity Management & Research Company, as the company announced on Tuesday. Investors also include new backer ICONIQ as well as existing investors Whale Rock and Atreides.
The funding values Oura at approximately $11 billion. The company intends to use the funds to advance its AI development and product innovations, expand global distribution, and develop new health features.
Strong Growth in Revenue and Sales Figures
According to its own statements, Oura is recording significant growth: Since its market launch in 2015, more than 5.5 million units of the Oura Ring have been sold – over half of them in the past year alone. Revenue in 2024 was over $500 million, representing a doubling compared to the previous year.
For 2025, the company projects revenue to double again to over one billion dollars while simultaneously increasing profitability.
“This funding is testament to Oura’s economic performance,” said CEO Tom Hale. The company positions itself not just as a hardware manufacturer, but as a platform for preventive health that aims to appeal to consumers, employers, insurers, and medical professionals.
Leadership Changes on the Board
Alongside the funding round, Oura announced personnel changes to its board. David Shuman, founder of Lateralus Holdings and a board member since 2016, is taking over as chairman from Eurie Kim, who has served in this role since 2019. Kim will remain with the company as a board member.
Additionally, Wen Hsieh, founding partner of Matter Venture Partners and former managing partner at Kleiner Perkins, will join the board. Hsieh brings expertise in battery technology, custom chip development, and intellectual property.
Product Expansions and New Features
Oura recently introduced several product innovations: the Oura Ring 4 Ceramic in new colors, the first hardware accessory in the form of a charging case, and the so-called Health Panels. This new feature allows users in the United States to book laboratory tests directly through the Oura app and view results.
With these expansions, Oura aims to establish itself as a comprehensive health platform that goes beyond pure fitness tracking functions and integrates preventive healthcare into everyday life.
