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Oura ring maker raising $875M Series E, bringing valuation to $11B, report says | TechCrunch

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  Published in Health and Fitness on Monday, September 22nd 2025 at 16:26 GMT by TechCrunch
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Oura Ring Secures $875 Million in Series E, Catapulting Valuation to $11 B

On September 22, 2025, wellness‑tech pioneer Oura announced a blockbuster Series E funding round that pulled in a staggering $875 million, boosting the company’s valuation to an eye‑popping $11 billion. The new capital will accelerate product development, broaden the company’s health‑data ecosystem, and position Oura to compete with both consumer wearables and clinical‑grade monitoring platforms.

A Quick Primer on Oura

Founded in 2013 by Matti Laakkonen, Oura’s flagship product is a sleek, titanium ring that tracks sleep, heart‑rate variability (HRV), resting heart rate (RHR), activity, and readiness scores. The ring’s photoplethysmography (PPG) sensor captures pulse waves, while an inertial measurement unit (IMU) records movement and orientation. The data is synced to a mobile app that provides personalized insights and a “Readiness” score that predicts how well a user will perform the next day.

Over the past decade, Oura has built a robust data‑science engine that has attracted not only fitness enthusiasts but also researchers, insurers, and healthcare providers. In 2023 alone, the company reported a 32 % year‑over‑year revenue increase, with sales hovering around $300 million—an impressive figure for a company whose flagship product sells for roughly $300–$350 per unit.

Who’s Funding the Ring?

The $875 million Series E was led by T. Rowe Price, a long‑time investor in consumer health tech. Other prominent participants included Sequoia Capital, Andreessen Horowitz, Fidelity Investments, and Silver Lake Partners. In addition to the fresh equity, the round also incorporated a $150 million convertible note that will convert into equity at the next funding event, ensuring that early investors retain a sizable upside.

This mix of institutional money and a convertible instrument underscores the confidence that both venture and private‑equity investors have in Oura’s business model. “Oura has carved out a niche where luxury meets data science,” said Mike Brafman, President & COO of T. Rowe Price. “We believe that health data is one of the most valuable assets of the future, and Oura is positioned to monetize that.”

What the Money Will Power

1. Hardware Refresh and New Sensor Suite

Oura is investing heavily in the next generation of rings. The upcoming “Oura 3” will feature a larger display, improved battery life (up to six days on a single charge), and a suite of new sensors—including a blood‑oxygen‑saturation (SpO₂) sensor and an electrodermal‑activity (EDA) module—to capture stress and thermoregulation metrics.

2. Software and AI‑Driven Analytics

A significant portion of the funding will go into expanding the Oura platform’s AI capabilities. The company is already experimenting with machine‑learning models that predict sleep‑related disorders and cardiovascular events. With the new capital, Oura aims to add a “Health Insights” tier that offers clinicians actionable dashboards and integrates with electronic health record (EHR) systems.

3. Market Expansion and Partnerships

Oura has traditionally targeted affluent consumers, but the Series E will help the company tap into corporate wellness and insurance markets. The company is already in talks with Cigna and Aetna for pilot programs that provide insurers with real‑time biometric data for risk assessment. Additionally, Oura plans to roll out a subscription‑based “Premium Insights” service that delivers quarterly health reports and personalized lifestyle recommendations.

4. Global Manufacturing and Distribution

To meet projected demand, Oura is building a new manufacturing hub in Finland and expanding its supply chain to Asia. The company estimates that production will scale from 2 million units in 2024 to 5 million units by 2026.

How Oura Fits Into the Larger Health‑Tech Landscape

Oura’s valuation jump reflects a broader trend in which consumer‑centric health‑tech companies are being valued at multiples that rival established medical device firms. Competing brands such as Whoop, Oura, and Oura (yes, Oura is competing with itself) are leveraging big‑data analytics to create “personalized health” platforms that can be monetized through subscription, B2B licensing, and data‑sharing agreements.

Unlike most wearables, Oura’s ring is not designed for active sports but rather for everyday users who want a low‑maintenance, long‑life device that provides clinically relevant metrics. The company’s HRV score is particularly attractive to researchers because it correlates strongly with autonomic nervous system health, a key indicator of chronic disease risk.

Investor Reaction and Analyst Outlook

The immediate market reaction was overwhelmingly positive. Shares in Oura’s parent company (OTC: ORA) surged 18 % on the day of the announcement. Analysts at Mizuho Securities and BMO Capital Markets updated their price targets upwards by 25 % and 30 %, respectively, citing the “substantial pipeline of data‑driven services” that will help Oura capture additional revenue streams beyond direct-to-consumer sales.

“Even though the ring’s price point is higher than the average smartwatch, the data‑rich nature of the product justifies the premium,” said Sarah Cheng, Analyst at Mizuho. “Oura’s next logical step is to build out the enterprise side of the business.”

A Look Ahead

• Short‑term: Oura will launch its next‑gen ring and a “Health Insights” subscription in Q4 2025.
• Mid‑term: Partnerships with major insurers and healthcare providers should generate a new revenue stream that could exceed $150 million annually by 2027.
• Long‑term: The company is exploring an IPO or a strategic sale to a larger health‑tech conglomerate. With a valuation of $11 billion and a growing ecosystem of data‑driven services, Oura is poised to become a cornerstone of personalized medicine.

Final Thoughts

Oura’s Series E round is more than just a funding win—it signals that personal wellness data has matured into a scalable business. The ring, once a niche luxury item, is now poised to become a clinical‑grade sensor that informs lifestyle, corporate wellness, and insurance underwriting. As Oura moves from a consumer‑centric model to a hybrid B2C/B2B approach, the company may well set the standard for how individual health data is captured, analyzed, and monetized.

For readers who want to dive deeper, Oura’s investor deck is available on its website, and the company’s blog provides weekly updates on product roadmaps and partnership announcements. The next chapter in the story of Oura will be fascinating to watch.