Oura Reaches Valuation of $5.2 Billion with New Investment
On Thursday, smart ring maker Oura announced that it has closed a significant $200 million Series D funding round. This development brings the company’s valuation to a remarkable $5.2 billion. The investment round included participation from Fidelity Management and glucose device maker Dexcom.
Expanding Product Offerings and Exploring Acquisitions
Oura says that the new capital will enable it to expand its product offerings, further invest in research and development, particularly in AI and science. Additionally, the funding will allow Oura to explore additional acquisitions, expanding its capabilities and reach in the market.
This news comes a month after Oura announced a partnership with Dexcom to pave the way for their devices and apps to be used together seamlessly. This collaboration means that Oura rings will eventually help users monitor their blood sugar levels, while also enabling co-marketing and cross-selling opportunities between the two companies.
Dexcom’s Investment in Oura
In an earlier announcement, Dexcom stated that it would be investing $75 million in Oura’s Series D round. This investment underscores the potential for a synergistic relationship between the two companies, with their products complementing each other perfectly.
Oura’s Growth and Expansion Plans
CEO Tom Hale’s Statement on the Funding Round
As reported by Oura, CEO Tom Hale expressed his excitement over the additional support from investors in a press release: "We’ve made significant progress in advancing our mission to make health a daily practice. We will use this funding to unlock new opportunities, with AI development at the center of our strategy."
Oura has demonstrated remarkable growth over the past year, with its member base and revenue more than doubling. The company has also expanded its retail presence by bringing its products to Amazon and Target.
Recent Acquisitions
In 2024, Oura acquired Sparta Science, a Bay Area-based health tracking startup. This acquisition was followed by another significant deal, as Oura acquired Veri, the Helsinki-based startup behind the metabolic health product of the same name in September.
Impact on the Health and Wellness Industry
The investment in Oura is expected to have a significant impact on the health and wellness industry. With its focus on AI development, the company aims to revolutionize the way people approach their health, making it a daily practice rather than an occasional concern.
A New Era for Wearable Technology
Oura’s success is a testament to the growing demand for wearable technology that goes beyond mere fitness tracking. The company’s innovative products and strategic partnerships are poised to change lives at scale, setting a new standard for the industry.
Biotech & Health Industry Insights
The partnership between Oura and Dexcom highlights the increasing importance of integrating health data from various sources. As the biotech and health industry continues to evolve, we can expect to see more innovative collaborations and products that aim to make health a priority in our daily lives.
Related Topics: Biotech & Health, Dexcom, Fidelity Management, Funding, Hardware, Oura
About the Author
Aisha Malik is a consumer news reporter at TechCrunch. Prior to joining the publication in 2021, she was a telecom reporter at MobileSyrup. Aisha holds an honors bachelor’s degree from University of Toronto and a master’s degree in journalism from Western University.
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