Oura Health Oy, the Finnish company behind the popular Oura fitness and health ring, is raising $875 million in a Series E round that values the company at around $10.9 billion, Bloomberg reported on Monday.
The round, expected to close by the end of the month, would more than double Oura’s valuation from its $5 billion Series D in December 2024. Bloomberg noted the raise could even exceed $900 million if finalized at the upper range.
Oura has sold 5.5 million rings to date, up sharply from 2.5 million as of June 2024. The company projects $1 billion in revenue for 2025, nearly double its 2024 figure of $500 million, with sales forecast to exceed $1.5 billion in 2026.
The fresh capital will be used to scale manufacturing, expand internationally, and invest in new product development. Bloomberg highlighted that Oura’s recent surge has been fueled by female consumers, retail store availability, health savings account purchases, and growth in international markets.
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If completed, this round would make Oura one of the most highly valued private healthtech companies, as it continues to ride a wave of consumer demand for wearable health-tracking devices.
