Oura Revenue, Valuation, Funding & Investors
Oura is valued at $11B as of October 2025, a 22.0x revenue multiple. Oura revenue was $500M, as disclosed with its latest round.
Last Oura valuation
$11B
Series E · Oct 2025
Last Oura funding round
Strategic investment
Amount undisclosed · Jul 2026
Oura revenue
$500M
Series E · Oct 2025
Key investors in Oura
Alumni Ventures
Temasek
Fidelity
ICONIQ Capital
Lifeline Ventures
TCG
About Oura
Oura is a Helsinki-headquartered company founded in 2013 that manufactures the Oura Ring Gen3, a finger-worn sensor tracking heart rate, blood oxygen, temperature, and sleep stages. The companion app delivers readiness, activity, and recovery scores used by professional athletes and over 10 million app downloads worldwide. Available in the US, Europe, and Asia through direct sales and retailers like Best Buy.
Founded
2013
HQ
OuluWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$500M (Oct 2025)
Valuation
$11B (Oct 2025)
Oura Valuation
Oura is currently valued at $11B, based on its Series E in October 2025. Read the announcement ↗
The $900M round was led by Fidelity, with participation from ICONIQ Capital, Atreides Management and Whale Rock Capital Management.
Oura's valuation has grown 14x from $800M at its Series C in May 2021 to $11B in October 2025, across 3 priced rounds.
Oura valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2025 | Series E | $11B | 22.0x |
| Nov 2024 | Series D | $5.2B | 10.4x |
| May 2021 | Series C | $800M | - |
Oura Revenue
Oura's latest recorded revenue is $500M, as of its Series E in October 2025. At a $11B valuation, that implies a 22.0x revenue multiple.
Revenue moved from $500M in November 2024 to $500M in October 2025, while the revenue multiple moved from 10.4x to 22.0x.
Oura revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2025 | $500M | $11B | 22.0x | Series E |
| Nov 2024 | $500M | $5.2B | 10.4x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Oura Funding History
Oura has raised a total of $1.2B across 9 funding rounds, plus 1 secondary share sale.
Oura's first fundraising round was a $2M seed round in November 2015. The most recent completed round was a strategic investment round in July 2026.
Oura funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Strategic investment | Eli Lilly (lead) | - | - | Eli Lilly made an equity investment in Oura, announced by Oura on 15 July 2026. The financial terms of the investment were not disclosed. Oura said the capital would accelerate the development of health tools that connect biometric data, daily behaviour and medical treatment, and that Lilly's experience in medicines for chronic conditions would sit alongside its own wearable sensing. The two companies are focused in particular on GLP-1 medicines: more than one hundred thousand Oura members had already logged GLP-1 use in the Oura app, and the company had recently launched GLP-1 Insights, a companion experience that sets biometric readings against medication-specific context. Lilly also works with Oura to bring biometric tracking into its LillyDirect digital healthcare channel, so that patients and clinicians can follow treatment response continuously. Oura was founded in 2013 and is headquartered in Oulu, Finland, and makes a smart ring that measures sleep, activity, stress, recovery, heart health and body temperature and reports them through an app. The company said it would use the money to build more personalised tools for members through their care journeys. |
| Oct 2025 | Series E | Fidelity (lead); ICONIQ Capital; Atreides Management; Whale Rock Capital Management | $900M | $11B | Oura is a Finnish health technology company founded in 2013 that develops the Oura Ring, a wearable device that tracks sleep, activity, heart rate, and other biometrics to deliver personalized health insights. The company has sold over 5.5 million devices, with more than half sold in the past year, and holds over 80% of the global smart ring market. In October 2025, Oura raised $900 million in a Series E funding round led by Fidelity Management & Research Company, with participation from new investor ICONIQ Capital and contributions from Whale Rock Capital Management and Atreides Management. The round valued the company at approximately $11 billion, more than doubling its previous $5.2 billion valuation from its Series D in December 2024. The capital will be used to accelerate AI and production innovation, introduce new health features including lab testing capabilities, and expand global distribution. Oura demonstrated strong traction leading into this round, generating $500 million in revenue in 2024 and projecting sales to exceed $1 billion in 2025. The company has expanded beyond its core sleep-tracking product to position itself as a preventive health platform, integrating Dexcom continuous glucose monitors and launching an AI health coach alongside new ceramic ring variants to broaden market appeal. |
| Nov 2024 | Series D | DexCom (lead); Fidelity (lead); Temasek; Andreessen Horowitz | $200M | $5.2B | Oura, maker of the leading smart ring for personalized health tracking including sleep, activity, readiness, stress, resilience, women's health, and heart health, completed a $200 million Series D funding round on December 19, 2024, with participation from Fidelity Management & Research Company and Dexcom, boosting its post-money valuation to $5.2 billion. The round followed a $75 million strategic investment from Dexcom in November 2024, which valued Oura at over $5 billion and established a partnership for integrating Dexcom's continuous glucose monitoring data with Oura Ring metrics, with the first app integration launching in the first half of 2025. Lead investors Dexcom and Fidelity, along with others like Andreessen Horowitz and Temasek Holdings mentioned in context, will fuel AI development, product expansion, and acquisitions. Oura has sold 2.5 million rings and seen its member base and revenue more than double over the past year, expecting annual sales to reach roughly $500 million in 2024 while achieving profitability. The company launched Oura Ring 4 with Smart Sensing technology and expanded via acquisitions of Sparta Science for B2B health analytics and Veri for metabolic health, plus partnerships like with Essence Healthcare. Funds will support innovation beyond the ring, including Oura Labs features like AI-powered Advisor and Meals tracking. This Series D builds on prior rounds: $100 million Series C in 2021 and $28 million Series B in 2020, with valuation rising from $2.55 billion in 2022. The Dexcom tie-up enables co-marketing and cross-selling, targeting users interested in nutrition's impact on biometrics amid a competitive wearables market focused on preventative health. |
| Aug 2023 | Secondary | Siena Secondary Fund | - | - | Siena Secondary Fund acquired a secondary stake in Oura, the Finnish wearable-technology company known for its smart ring, buying the shares from an existing shareholder on the secondary market. The transaction marked Siena's first investment in Finland. |
| May 2021 | Series C | Elysian Park Ventures (lead); TCG (lead); Temasek; Eisai Co.; Jazz Venture Partners | $100M | $800M | Oura raised $100 million in a Series C round announced on 4 May 2021, co-led by The Chernin Group and Elysian Park, the private investment arm of the Los Angeles Dodgers ownership group. Temasek, JAZZ Venture Partners and Eisai joined the round alongside existing backers including Forerunner Ventures, Square and MSD Capital, taking Oura's total funding to $148.3 million. The company said the capital would fund hardware and software research and development and hiring across marketing and customer experience. Oura was founded in 2013 and is headquartered in Oulu, Finland, and makes a smart ring that tracks sleep, heart rate, body temperature and activity and reports them through an app as sleep, readiness and activity scores. It had sold more than 500,000 rings by the time of the round. Demand had accelerated during the COVID-19 pandemic after the NBA, the WNBA, the UFC and NASCAR adopted the ring, partly for its continuous temperature sensing as an early warning of illness. |
| Mar 2020 | Series B | Forerunner (lead); Gradient (lead); Nico Wittenborn; Carl Pei; Alumni Ventures; Biz Stone; Block; Able Partners | $28M | - | Oura raised $28 million in a Series B round announced on 17 March 2020. Forerunner Ventures, Gradient Ventures and Square led the investment, and the round brought Eurie Kim of Forerunner and Jesse Dorogusker of Square onto the board, with Gradient's Anna Patterson joining as a board observer. The company said it would use the money to improve its web portal, expand research collaborations with academic institutions and strengthen the accuracy of its measurements. Oura was founded in 2013 and is headquartered in Oulu, Finland, with a growing presence in San Francisco. Its product is a titanium ring that measures sleep patterns, body temperature, heart rate and activity, and pairs with a mobile app that turns the data into sleep, readiness and activity scores. At the time of the round the company had sold more than 150,000 rings since launching the second-generation product in early 2018 and employed over 100 people worldwide. The round came just as the ring's temperature sensing drew attention for possible early detection of illness during the COVID-19 pandemic. |
| Oct 2018 | Undisclosed stage | DFO Management (lead); Jeremy Yap; Ryan Rzepecki; Lance Armstrong; Dave Morin; Will Smith; Steve Chen; Kevin Lin; Shaquille O'Neal | $6M | - | Oura raised $6 million in an October 2018 funding round led by DFO Management, with participation from investors including Dave Morin, Jeremy Yap, Kevin Lin, Lance Armstrong, Ryan Rzepecki, Shaquille O'Neal, Steve Chen, and Will Smith. The funds were intended to further develop the technology and expand the team. This followed an earlier $6M Series A in April 2018 led by Bold Capital Partners and Tesi to enhance product features and the app. Oura, founded in Finland in 2013 and headquartered in San Francisco, produces the Oura Ring, a smart ring for health tracking including sleep, activity, and recovery metrics. The company has continued raising capital in subsequent rounds, including a $28M Series B in March 2020 led by Forerunner and Gradient, a $200M Series D in December 2024 at $5.2B valuation led by Fidelity and Dexcom, and a $900M+ Series E in October 2025 at $11B valuation led by Fidelity. |
| Jul 2018 | Undisclosed stage | Bold Capital Partners (lead); Tesi (lead); G9 Ventures | $6M | - | Oura Health, based in Oulu, Finland, develops the Oura Ring, a wearable device that tracks sleep, activity, heart rate, and biometrics to provide personalized health insights via an app. In April 2018, the company raised approximately $6 million (€5M) in a Series A extension round led by Bold Capital Partners and Tesi (Finnish Industry Investment). The funds supported scaling US market operations, enhancing product features, improving the app, and driving international sales, particularly in the USA. Prior to this, Oura had raised €7.5M in capital. Leadership changes accompanied the round: former CEO Petteri Lahtela transitioned to President and Chief Innovation Officer, while Harpreet Rai, previously President of Ouraring Inc., became the new CEO. Industry experts Stephen Friend and Kevin Lin joined the board. Oura, founded in 2013 by Kari Kivelä and Petteri Lahtela, originated from a Kickstarter campaign focused on turning biometric data into actionable recommendations. |
| Nov 2016 | Series A | Harpreet Rai (lead); Jaan Tallinn (lead); David Shuman; Sternhill Associates; Alumni Ventures | $6M | - | Oura raised EUR 5 million in a Series A round announced on 29 November 2016. The round was backed by a group of angel and institutional investors including Jaan Tallinn, a founding engineer of Skype and co-founder of Kazaa, and Joi Ito, then director of the MIT Media Lab, alongside finance professionals and technology entrepreneurs who were not named. The company said the money would help take its smart jewellery to a mainstream audience. Before the round Oura had raised EUR 1.5 million of Finnish government loans for technology start-ups and a EUR 300,000 non-dilutive grant for data analytics and core technology development, and the Series A brought total venture funding to EUR 7.2 million. Oura was founded in 2013 and is based in Oulu, Finland. It makes a ring paired with a mobile application that measures pulse rate, respiration, body temperature and movement to score sleep quality and readiness, and to show users how their daily choices affect their recovery, health and performance. |
| Nov 2015 | Seed | Lifeline Ventures (lead); Proxy Ventures; Jyri Engestrom | $2M | - | - |
Who has invested in Oura?
40 investors have backed Oura across its funding rounds, including Alumni Ventures, Temasek, Fidelity, ICONIQ Capital, Lifeline Ventures and TCG.
Lead investors include Eli Lilly, Fidelity, DexCom, Elysian Park Ventures, TCG and 8 other investors.
Oura Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Singapore | 2 | Participant | May 2021 | |
 Boston, MA | 2 | Lead | Nov 2024 | |
| Manchester | 2 | Participant | Nov 2016 | |
| San Francisco, CA | 1 | Participant | Oct 2018 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Nico Wittenborn | New York City, NY | 1 | Participant | Mar 2020 |
| San Francisco, CA | 1 | Participant | Oct 2025 | |
| Ryan Rzepecki | New York City, NY | 1 | Participant | Oct 2018 |
| Los Angeles, CA | 1 | Lead | Jul 2018 | |
| Lance Armstrong | Aspen, CO | 1 | Participant | Oct 2018 |
| Dave Morin | San Francisco, CA | 1 | Participant | Oct 2018 |
| Philadelphia, PA | 1 | Participant | Oct 2018 | |
| Helsinki | 1 | Lead | Nov 2015 | |
| David Shuman | New York City, NY | 1 | Participant | Nov 2016 |
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Start Free TrialAcquisitions by Oura
Oura has acquired 4 companies to date.
Last acquisition by Oura was on March 4th 2026. Oura acquired Doublepoint for undisclosed valuation.
Latest Acquisitions by Oura
| Description | Doublepoint is a Helsinki-based developer of wearable touch interfaces for virtual reality and augmented reality devices. The company produces a ring-shaped controller that detects finger gestures for precise interactions in games and productivity apps. Doublepoint integrates its hardware with platforms like Meta Quest and Apple Vision Pro through software development kits. | Sparta Science is a San Francisco-headquartered provider of the Movement Health Platform using force plate technology and scan kits. The system computes Sparta Score from Load, Explode, and Drive metrics assessing human movement efficiency. Applications span military, professional sports, healthcare, and corporate wellness for injury prevention and performance gains. | Veri is a San Francisco-based health tech company offering continuous glucose monitoring via wearable sensors and iOS app. Launched in 2020, it tracks metabolic responses to 100 foods for 10,000 users, partnering with Levels Health for data insights. Veri's algorithm personalizes nutrition plans reducing average glucose spikes by 25 percent. | Proxy is a San Francisco-headquartered provider of smartphone-based digital identity systems. Founded in 2016, its Proxy ID platform emits secure signals for contactless access to doors, elevators, and services at clients including Cloudflare, Vornado Realty Trust, and Empire State Realty Trust. Products encompass Proxy Health for wellness verification and hardware readers for enterprise buildings. |
| HQ Country | | | | |
| HQ City | Helsinki | San Francisco, CA | Helsinki | San Francisco, CA |
| Deal Date | 4 Mar 2026 | 31 Oct 2024 | 11 Sep 2024 | 9 May 2023 |
| Valuation | undisclosed | undisclosed | undisclosed | $185M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Oura Competitors
Oura competitors include listed companies like InBody and Garmin, and private ones like WHOOP, Cult.fit, Twin Health and Fiture.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 South Korea | Publicly listed | $175M | $33M | $465M | 1.8x | |
| Boston, MA | Private | $1.1B | - | $10B | 9.2x | |
| United States | Publicly listed | $7.2B | $2.1B | $53B | 6.3x | |
 Bangalore | Private | $74M | - | $1.5B | - | |
| San Francisco, CA | Private | - | - | $1.4B | - | |
 Chengdu | Private | - | - | $1B | - |
Oura Public Comps
Oura is still privately-owned, but its public comps include Goertek, Huaqin Co, Caris Life Sciences, Hinge Health, Tempus AI, Huaqin Technology, Solventum, ICON plc, CareDx and Revvity.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $15B | $1.2B | 0.9x | 0.9x | 10.4x | 11.8x | |||
| $26B | $907M | 0.5x | 0.4x | 14.1x | 11.6x | |||
| $812M | ($5M) | 11.5x | 9.4x | (1829.3x) | 54.0x | |||
| $588M | ($522M) | 15.0x | 10.8x | (16.9x) | 39.2x | |||
| $1.3B | ($131M) | 10.8x | 8.9x | (105.2x) | 261.7x | |||
| $26B | $894M | 0.6x | 0.5x | 16.5x | 13.4x | |||
| $8.3B | $2.5B | 2.2x | 2.3x | 7.3x | 9.4x | |||
| $8.3B | $816M | 2.2x | 2.3x | 22.7x | 13.6x | |||
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Common questions about Oura
| When was Oura founded? | Oura was founded in 2013. |
| Where is Oura headquartered? | Oura is headquartered in Oulu, Finland. |
| Is Oura publicly listed? | No, Oura is a private, VC-backed company. |
| What is Oura's valuation? | Oura was last valued at $11B in its Series E in October 2025. |
| How much funding has Oura raised? | Oura has raised $1.2B across 9 funding rounds. |
| What was Oura's last funding round? | Oura's last funding round was a strategic investment round in July 2026, led by Eli Lilly. |
| Who are Oura's investors? | Oura's investors include Temasek, Fidelity, Alumni Ventures, Jeremy Yap, Nico Wittenborn, ICONIQ Capital, Ryan Rzepecki, Bold Capital Partners, Lance Armstrong, Dave Morin and 30 others. |
| What is Oura's revenue? | Oura's latest recorded revenue is $500M (October 2025). |
| What is Oura's revenue multiple? | Oura's latest valuation implies a 22.0x revenue multiple ($11B valuation on $500M of revenue). |
| Which companies are comparable to Oura? | Companies comparable to Oura include InBody, WHOOP, Garmin, Cult.fit, Twin Health and Fiture. |
| How many companies has Oura acquired? | Oura has acquired 4 companies, including Doublepoint, Sparta Science, Veri and Proxy. |
| What was the largest acquisition by Oura? | The $185M acquisition of Proxy in May 2023 is the largest acquisition Oura has made to date. |
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