Oura Secures $900M in Series E Funding Amid Surge in Smart Ring Sales

The latest round values the company at $11 billion, marking a sharp rise from its $5.2 billion valuation in December 2024.

Oura, the maker of the Oura Ring, has raised more than $900 million in Series E funding as its smart ring sales soared over the past year. 

The latest round values the company at $11 billion, marking a sharp rise from its $5.2 billion valuation in December 2024.

The funding round was led by Fidelity Management & Research Company, with new investor Iconiq joining alongside Whale Rock and Atreides. Oura said the new capital will be used to develop artificial intelligence features, expand global distribution, and introduce new health-related capabilities in its products.

The company reported that more than half of its total 5.5 million Oura Ring sales since 2015 occurred in 2025, nearly 3 million units this year alone. Combined revenue from devices and app subscriptions is expected to reach $1 billion in 2025, doubling last year’s $500 million.

Oura’s growth aligns with the broader push from the U.S. health department to bring digital health tools to consumers. Earlier this year, Health Secretary Robert F. Kennedy Jr. suggested distributing wearables to all Medicare beneficiaries, signaling rising interest in preventive health technologies.

Oura’s focus has increasingly shifted toward healthcare partnerships. The company is building connections with health plans by examining the link between sleep habits and chronic diseases, moving beyond its roots as a consumer wellness brand.

“This new funding is a testament to the strength of ŌURA’s business and the trust millions of members place in us every day,” said CEO Tom Hale. “We’re proud to be building not just a product, but a global movement toward proactive health—helping people understand their bodies, make better lifestyle decisions, and connect more effectively with their healthcare providers. Today, our technology supports consumers, employers, insurers, and clinicians working together to advance preventive health at scale. With this investment, we will accelerate innovation, expand our global reach, and set a new standard for what wearables can achieve in advancing preventive health.”

The company also announced a leadership change. David Shuman, founder of Lateralus Holdings and board member since 2016, will replace Eurie Kim, managing partner at Forerunner, as chair of Oura’s board. Kim will remain a member.

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