Hitechreports

Massive New Funding Round Led by Fidelity

Finnish health tech company Oura has secured $900 million in fresh funding led by Fidelity Management & Research Company, with participation from ICONIQ Capital, Whale Rock, and Atreides Management.

The new round values Oura at approximately $11 billion, more than doubling its valuation from the previous funding round in December. Bloomberg first reported that Oura was finalizing the deal at this valuation.

“This new funding is a testament to the strength of Oura’s business and the trust millions of members place in us every day,” said Tom Hale, CEO of Oura. “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.”

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Focus on AI, Health Innovation, and Global Reach

Oura told TechCrunch that the fresh capital will accelerate AI-driven health innovation, product development, and global distribution efforts. The company plans to expand its suite of health-tracking features and deepen its integration with healthcare ecosystems worldwide.

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Record Growth and Market Leadership

Since its launch, Oura has sold over 5.5 million smart rings, with more than half of those sales coming in the past year alone. In 2024, the company more than doubled its revenue, generating $500 million, and expects to surpass $1 billion in sales this year.

According to an IDC report, Oura currently holds over 80% of the global smart ring market, making it the undisputed leader in this fast-growing wearable tech category.

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Expanding Customer Base and Product Lineup

Oura’s user base continues to diversify. At the Elevate Conference in Toronto, Oura’s Chief Commercial Officer Dorothy Kilroy revealed that women in their early twenties have become a key demographic driving growth.

The company launched its Oura Ring 4 in October last year and recently introduced ceramic versions alongside a new magnetic charging dock, offering both aesthetic and functional upgrades.

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Venturing into Health Testing and AI Coaching

Beyond hardware, Oura is expanding into digital health services. This month, the company launched Health Panels, a feature within the Oura app that allows users to book blood tests for $99 at over 2,000 Quest Diagnostics locations across the U.S.

Users can view their lab results directly in the app and chat with Oura’s AI-powered assistant for general wellness insights—though the company stops short of offering medical advice.

This move positions Oura in direct competition with wellness rivals like Whoop, which launched a similar feature, as well as Ultrahuman and Samsung, which are developing their own smart rings and health ecosystems.

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A Billion-Dollar Future for Wearable Health

With its latest funding and surging sales, Oura is positioning itself as the global leader in personalized health technology, bridging the gap between consumer wearables and professional healthcare.

The company’s next challenge will be turning its data-driven insights into deeper, medically relevant tools—an area where AI innovation and trusted partnerships could make all the difference.