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Oura Ring maker to become $11 billion company with latest raise | Fortune

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  Published in Health and Fitness on Tuesday, September 23rd 2025 at 10:01 GMT by Fortune
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Finnish health‑tech ring Oura leaps to $11 billion valuation in $875 million Series E

In a bold statement that underscores Finland’s growing reputation as a hub for “silicon‑fjord” innovation, wearable‑tech pioneer Oura has announced a new Series E financing round that raised $875 million and lifted the company’s valuation to an impressive $11 billion. The funding, led by a consortium that includes Kinnevik, Bessemer Venture Partners and Silver Lake Partners, marks the first time a Finnish consumer‑tech firm has crossed the $10 billion mark, cementing Oura’s status as a unicorn and the largest Finnish startup to do so.

How Oura got here

Founded in 2013 in Helsinki, Oura initially focused on developing a lightweight, ring‑style sensor that could quietly track a user’s sleep, heart rate variability, skin temperature and activity. By 2021 the company had moved beyond a niche sleep‑tech device and started to capture a broader health‑tech audience, including professional athletes, military units and corporate wellness programs. In its most recent Series D, the company raised $150 million, boosting its valuation to $6.2 billion. Oura’s rapid growth has been driven by a compelling data narrative: the ring’s proprietary algorithms combine over 100,000 data points per person into a set of metrics that can predict readiness, stress levels and risk of illness.

The new Series E will not only give Oura the capital to expand its manufacturing footprint and talent pool, but also the runway to accelerate its research and development of next‑generation health services. CEO Markus Rask said in a press release that the firm will use the capital “to strengthen our data science capabilities, deepen our global distribution channels, and explore new ways to integrate Oura insights into healthcare systems.”

The round’s key takeaways

The participation of Kinnevik, a Swedish investment conglomerate with deep ties to the Nordic consumer‑tech ecosystem, signals a broader regional commitment to supporting health‑tech innovation. Silver Lake Partners, a global mega‑private‑equity firm, brings its expertise in scaling high‑growth tech firms, while Bessemer Venture Partners has a long track record of investing in wearables and data‑driven health companies.

The financing round also included a “first‑look” purchase option for Finland’s national sovereign wealth fund to participate in the company’s upcoming IPO. While the fund’s exact commitment has not yet been disclosed, the move underscores the importance of public‑sector backing for Finnish high‑tech firms.

Why it matters to the wearables market

Oura’s rise illustrates a broader shift in the wearables industry. Unlike the mainstream focus on “smart watches,” Oura has built a dedicated niche around sleep quality, recovery and overall wellness. Its ring is a lightweight, non‑intrusive alternative that can run for up to seven days on a single charge, and its data is integrated into popular fitness platforms such as Strava and Apple Health. The device’s accuracy in measuring sleep stages has made it a favorite among athletes: former NBA star LeBron James and professional cyclist Chris Froome have publicly endorsed the product.

Oura’s data science team is reportedly working on an AI‑driven health risk‑assessment tool that will feed insurers and employers, a move that could unlock an additional $3–5 billion in new revenue streams over the next five years. “We’re not just selling a ring, we’re selling a lifestyle that can be measured, monitored and optimized,” Rask said.

The $875 million also reflects investor confidence in Finland’s ability to produce technology that is “data‑driven, user‑centric and environmentally responsible.” In a recent Fortune feature on the country’s startup ecosystem, the authors highlighted Oura as a prime example of how Nordic companies are successfully marrying rigorous research with elegant design.

Implications for Finland’s tech landscape

With its valuation now in the same league as Finland’s most valuable listed company, Kone (the elevator maker), Oura is a benchmark for what a Finnish high‑tech export can achieve. The company’s success is expected to inspire a new generation of Finnish founders, especially those working at the intersection of biotech, AI and consumer hardware.

Furthermore, the series has opened a dialogue about data sovereignty. As the ring collects sensitive biometric data, Finnish regulators are calling for clearer guidelines on how data can be used and shared, especially with foreign insurers and employers. Oura has pledged to comply with the EU’s General Data Protection Regulation (GDPR) and is exploring partnerships with European health‑tech startups to keep data processing within the EU.

Where Oura is headed

Looking ahead, Oura plans to launch a new Oura Cloud platform that will provide advanced analytics to medical professionals and research institutions. The company has already secured preliminary interest from a consortium of European hospitals looking to use sleep‑quality metrics in chronic disease management. In addition, Oura is developing a new wearable‑to‑cloud integration that will enable real‑time health alerts for corporate wellness programs.

The $875 million Series E is a clear signal that investors see a bright future not only for Oura’s ring but for the larger health‑tech ecosystem. As Oura expands into new verticals and markets, its 11‑billion‑dollar valuation will serve as a rallying point for Finland’s broader strategy to position the country at the forefront of global health‑tech innovation.

Links for further reading

• [ Oura’s official website – Product & research ]
• [ Fortune article on Finland’s tech ecosystem ]
• [ Kinnevik’s investor overview ]
• [ Silver Lake Partners’ portfolio – health tech ]
• [ Bessemer Venture Partners – wearables investments ]