This Oura company profile covers the company's valuation, revenue, funding rounds, investors and history. Oura works in consumer health, with a focus on wearables and smart rings. It was founded in 2013 and is headquartered in Oulu, North Ostrobothnia, Finland. Its latest valuation on record is About US$11 billion (October 2025). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
About US$500 million — Annual revenue, 2024 (company-reported), as of 2024. Source: Fierce Healthcare.
| Metric | Value | As of | Source |
|---|---|---|---|
| Rings sold | About 5.5 million rings sold since 2015; the company expected about US$1 billion in 2025 sales | October 2025 | Fierce Healthcare |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Oct 2025 | Series E | More than US$900M | About US$11B | Fidelity (lead); ICONIQ, Whale Rock, Atreides | Fierce Healthcare |
| Dec 2024 | Series D extension | About US$200M | About US$5.2B | Fidelity (lead); Dexcom | Fierce Healthcare |
Oura timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2013 — Oura is founded in Oulu by Petteri Lahtela, Kari Kivelä and Markku Koskela.
- Dec 2024 — Series D extension: About US$200M, valuing the company at About US$5.2B. Investors: Fidelity (lead); Dexcom.
- Oct 2025 — Series E: More than US$900M, valuing the company at About US$11B. Investors: Fidelity (lead); ICONIQ, Whale Rock, Atreides.
- October 2025 — Rings sold: About 5.5 million rings sold since 2015; the company expected about US$1 billion in 2025 sales.
Investors
Overview
Oura makes the Oura Ring, a smart ring that tracks sleep, heart rate, heart rate variability, body temperature, activity, stress and other health signals, and an app that turns the data into daily scores and personalised guidance. Worn on the finger rather than the wrist, it appeals to people who want continuous health tracking without a screen or a bulky watch. Oura has become the leading smart ring company worldwide, selling about 5.5 million rings, and in October 2025 it raised more than US$900 million at a valuation of about US$11 billion, making it one of the most valuable private consumer health companies in the world.
Oura was founded in 2013 in Oulu, Finland, by Petteri Lahtela, Kari Kivelä and Markku Koskela. The company launched its first ring through a Kickstarter campaign in 2015. Tom Hale, a former Adobe and Momentive executive, became CEO in 2022 and led the company through its fastest growth. Oura maintains major operations in Finland and the United States, with offices in San Francisco and elsewhere.
Products
- Oura Ring: a titanium ring with sensors for heart rate, temperature, blood oxygen and movement, in several finishes and sizes.
- Oura app and membership: sleep, readiness and activity scores, trends, guidance and features such as cycle insights and stress tracking.
- Women's health: period prediction and fertility features, and partnerships with fertility apps.
- Metabolic health: integrations with continuous glucose monitors through its partnership with Dexcom.
- Enterprise and research: programmes for employers, sports teams, the military and research institutions.
Funding
Oura raised early funding from investors including Forerunner Ventures. In December 2024 it raised about US$200 million, including from Fidelity and medical device maker Dexcom, at a valuation of about US$5.2 billion. In October 2025 it raised a Series E of more than US$900 million at about US$11 billion, led by Fidelity with new investor ICONIQ and participation from Whale Rock and Atreides. Some reports put the amount at about US$875 million. The company said it would use the money for innovation, manufacturing and global growth.
Revenue
Oura said its revenue more than doubled in 2024 to about US$500 million, and it expected sales of about US$1 billion in 2025 from rings and subscriptions. The 2025 figure was a projection at the time of the raise, so we report the 2024 figure.
Business model
Oura earns revenue from selling rings, typically priced in the hundreds of dollars, and from a monthly membership required for most app features. The combination of hardware and subscription creates recurring revenue from a growing installed base. It also earns from enterprise partnerships and integrations. Hardware margins depend on manufacturing efficiency, while subscriptions add high-margin income.
Competition
Oura competes with Samsung's Galaxy Ring, Ultrahuman, RingConn and other smart rings; with smartwatches from Apple, Garmin, Samsung and Google; and with fitness trackers such as Whoop. Oura has pursued patent litigation against some ring competitors. Its advantages are an early lead, a strong brand, validated sleep tracking and a large membership base.
Oura at a glance
Oura is a Finnish smart ring company founded in 2013 in Oulu by Petteri Lahtela, Kari Kivelä and Markku Koskela, led by CEO Tom Hale. It has sold about 5.5 million rings and reported about US$500 million in 2024 revenue. It raised more than US$900 million at about US$11 billion in October 2025, led by Fidelity.
Timeline
- 2013: founded in Oulu, Finland.
- 2015: launches its first ring on Kickstarter.
- 2020: gains attention as sports leagues use rings during the pandemic.
- 2021–2022: launches third-generation ring and membership model; Tom Hale becomes CEO.
- 2024: launches Oura Ring 4; revenue reaches about US$500 million; raises at about US$5.2 billion.
- October 2025: raises more than US$900 million at about US$11 billion.
Why smart rings caught on
Rings are comfortable to wear at night, which makes them well suited to sleep tracking, one of the most valued features in wearable health. They don't have screens or constant notifications, appealing to people who want health data without distraction. The finger also provides strong signals for heart rate and temperature. As awareness of sleep, recovery and metabolic health has grown, rings have become a mainstream wearable category, with Oura the clear early leader.
From wellness to health
Oura has moved beyond general wellness towards health, adding features related to women's health, metabolic health and cardiovascular signals, and partnering with healthcare companies. Medical-grade claims require regulatory approvals, which take time and evidence. If Oura can provide clinically validated insights, it could become part of healthcare and insurance programmes, a much larger opportunity.
Who uses Oura
Oura's users include health-conscious consumers, athletes, people tracking sleep and recovery, women tracking cycles and fertility, and organisations such as sports teams and research institutions.
Valuation context
An US$11 billion valuation on about US$500 million of 2024 revenue implies a high multiple, supported by rapid growth and expected doubling in 2025. Our guide to healthcare AI startups covers related companies.
Risks
- Competition: Samsung, Apple and others can bundle health features into larger ecosystems.
- Hardware supply: manufacturing and component supply affect growth.
- Subscription fatigue: some users dislike paying monthly fees.
- Privacy: health data requires strong protection.
Questions for buyers
- Which features require a membership?
- How accurate is sleep and heart tracking compared with alternatives?
- How is your health data stored and shared?
Hardware plus subscription
Oura's model mixes a one-time hardware sale with a monthly membership. This gives the company recurring revenue from each active user and funds ongoing software development, such as new health features and insights. It also means customers pay continuously for value delivered over time rather than only once. Some users resist paying monthly for a device they already bought, which is why the membership must keep adding useful features.
Latest developments (October 2026)
Oura launched a US IPO in September 2026, offering 50 million shares at US$40 to US$44 under the ticker OURA, which would have valued it at about US$14 billion to US$15.6 billion, according to TechRepublic. However, it postponed the offering after bookbuilding, citing market uncertainty, with IFR reporting disagreement over valuation and concerns about share lock-ups, according to IFR. Oura remains private. Its filing showed revenue of US$1.21 billion in the first nine months of the year, up 74%.
What to watch
Watch for an IPO filing, revenue updates, new health features and competition from Samsung and Apple. Our guide to upcoming tech IPOs tracks possible listings.
Takeaways
Consumers can track sleep and health with a discreet wearable. Founders can see how hardware plus subscription builds recurring revenue. Investors should watch competition from big tech as Oura heads towards a possible IPO.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Oura do?
Oura is a consumer health / wearables and smart rings company headquartered in Oulu, North Ostrobothnia, Finland. It was founded in 2013.
What is Oura's valuation?
Oura was valued at About US$11 billion as of October 2025, according to Fierce Healthcare. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Oura make?
Oura reported About US$500 million (annual revenue, 2024 (company-reported)) as of 2024, according to Fierce Healthcare.
What was Oura's latest funding round?
The most recent financing we have verified is a series e in Oct 2025: More than US$900M, at a valuation of About US$11B. Source: Fierce Healthcare.
Who are Oura's investors?
Investors named in public announcements include Fidelity, ICONIQ, Whale Rock, Atreides, Dexcom and Forerunner Ventures.
Who founded Oura?
Oura was founded in 2013 by Petteri Lahtela, Kari Kivelä and Markku Koskela.
Is Oura a public company?
No. Oura is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Oura headquartered?
Oura is headquartered in Oulu, North Ostrobothnia, Finland.