Oura ring maker raising $875M Series E, bringing valuation to $11B, report says

In Summary

Oura Health Oy, the creator of the innovative Oura health and fitness ring, is embarking on a significant funding journey, raising $875 million in a new Series E financing round, which is projected to value the company at approximately $10.9 billion, as reported by Bloomberg.

This financing round, expected to finalize by the end of the month, would represent a substantial leap from the company’s previous $5 billion valuation achieved in its Series D round publicized last December. Reports indicate that this Series E round might even surpass the $900 million mark.

As of now, Oura has successfully sold 5.5 million rings, an impressive rise from the 2.5 million recorded in June 2024. The company anticipates generating over $1 billion in revenue this fiscal year, which would represent a doubling of its $500 million earnings from 2024. Furthermore, projections for 2026 suggest sales could reach beyond $1.5 billion.

The fresh influx of capital is earmarked for scaling production efforts, expanding international reach, and enhancing product development.

Bloomberg also highlights that the driving forces behind the company’s recent surge include strong demand from female consumers, retail sales, transactional purchases through health savings accounts, and strategic expansion into global markets.

Subscribe for the latest updates in tech news across the industry