Oura Health Oy, the company behind the Oura health and fitness ring, is raising 875 million dollars in a new Series E financing round. This investment values the company at approximately 10.9 billion dollars.
The funding round is expected to close by the end of the month. This new valuation would double the company’s previous 5 billion dollar valuation from its Series D round, which was announced last December. Reports indicate the Series E round could ultimately exceed 900 million dollars.
Oura has now sold 5.5 million rings, a significant increase from the 2.5 million units reported in June 2024. The company is projected to generate more than one billion dollars in revenue this year, which is double the 500 million dollars it earned in 2024. Looking ahead to 2026, the company forecasts its sales will exceed 1.5 billion dollars.
The new capital will be used to scale production capacity, support further international expansion, and fund ongoing product development. The company’s recent growth has been attributed to several key factors. These include increased adoption among female consumers, strong retail store sales, purchases made through health savings accounts, and a successful expansion into international markets.