Oura ring valued at $11 billion as Finnish health tech firm secures $900 million and targets global AI leadership

Oura, the Finnish-founded maker of health tracking smart rings, has achieved a remarkable new valuation of $11 billion following its latest investment round. The company successfully raised $900 million, with Fidelity at the helm of the fundraising. Other contributors included Iconiq, Whale Rock and Atreides, reflecting widespread confidence in Oura’s plans for accelerated innovation and worldwide expansion.

Oura’s discreet rings have gained substantial popularity among celebrities and athletes, with over 5.5 million devices sold in the firm’s twelve-year history. More than half of those sales have occurred in the past year alone. In 2024, Oura generated over $500 million in revenue, marking a doubling of growth compared to the previous year, and is forecast to exceed $1 billion in turnover for 2025. The latest model sells for £499, complemented by a compulsory monthly subscription to its health insights app, priced at £5.99.

Initially founded in 2013, Oura saw rapid growth during the pandemic, as its technology proved valuable in studies on early illness detection through skin temperature monitoring. Now based in San Francisco, Oura’s total funds raised to date stand at $1.5 billion. Chief executive Tom Hale, who has overseen the company since 2022, stated that the capital will drive further AI and product development, expand distribution, and support innovation of new health features that could set a new benchmark for preventive health wearables.

The company maintains a clear distinction between its offering and regulated medical devices. Recent media attention focused on Oura’s commercial ties with both the US Defence Department and Palantir, the data analytics business. Some users have voiced concerns regarding potential use of their health data; however, Hale has publicly addressed these issues, asserting that users’ data remain private and inaccessible to third parties, unless users grant explicit permission.

This sizeable fundraising now positions Oura as a prime candidate for a public listing, though no date has been set. Hale’s experience with public companies and multiple IPOs leaves the door open, as he indicated that Oura would be ready for an IPO when the time is right. For now, the company will focus on leveraging its fresh capital to accelerate both growth and innovation on a global scale.