Finnish health tech pioneer Oura has raised $900 million in new funding led by Fidelity Management & Research Company, pushing its valuation to approximately $11 billion — more than double its previous valuation from December.
The round also saw participation from ICONIQ, Whale Rock Capital, and Atreides Management, underscoring investor confidence in the health tech’s growing dominance in the wearable health technology space.
“This new funding is a testament to the strength of Oura’s business and the trust millions of members place in us every day,” said Tom Hale, CEO. “We’re building more than a product — we’re driving a global movement toward proactive health, empowering people to understand their bodies, make smarter lifestyle choices, and connect more meaningfully with their healthcare providers.”
Expanding AI Capabilities and Global Reach
The company plans to use the fresh capital to advance AI-driven health insights, accelerate product innovation, and expand global distribution. The company aims to introduce new features that deepen personalization and improve preventive health tracking.
The funding comes after a record year for the Finnish company. The company has sold over 5.5 million smart rings since launch — more than half of which were sold in 2024, a year in which the company doubled revenue to $500 million. It expects sales to exceed $1 billion in 2025.
According to IDC, the firm now holds more than 80% of the global smart ring market, solidifying its position as the category leader amid growing competition from companies like Ultrahuman, Whoop, and Samsung.
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Capturing a New Generation of Health-Conscious Users
Oura’s reach continues to expand across demographics. Speaking at the Elevate Conference in Toronto, Dorothy Kilroy, Oura’s Chief Commercial Officer, revealed that women in their early twenties are now one of the company’s fastest-growing user segments.
The company’s latest device, the Oura Ring 4, launched in October 2024, introducing upgraded sensors and sleep-tracking precision. Earlier this month, Oura expanded its design portfolio with ceramic versions and a new wireless charging dock.
Moving Beyond Wearables: AI Health Insights and Testing
The finnish company is also stepping into personalized health testing. The company recently launched Health Panels, a new in-app feature that allows users in the U.S. to book blood tests for $99 through Quest Diagnostics’ 2,000 lab locations.
While Oura doesn’t provide direct medical advice, results are integrated into the app — where users can discuss findings with Oura’s AI-powered assistant for general lifestyle recommendations.
The feature puts Oura in direct competition with Whoop, which debuted a similar testing capability this month, as well as with upcoming smart ring initiatives from Ultrahuman and Samsung.
A Global Leader in Proactive Health Technology
Founded in 2013 and headquartered in Oulu, Finland, Oura has transformed from a sleep-tracking startup into a global health intelligence company. By combining precise biometric tracking with AI-driven insights, it aims to shift healthcare from reactive treatment to proactive prevention.
With its $900M raise and expanding product ecosystem, Oura is positioning itself not just as a wearable tech leader, but as a cornerstone of the next generation of personalized, AI-powered health platforms.
