Smart ring maker Ōura has raised over $900m, valuing the Finland-based company at around $11bn.

Ōura plans to use the funding to accelerate AI and product innovation, expand global distribution, and invest in development of health features. This financing reflects the firm’s momentum, coming on the heels of the announcement that it has sold more than 5.5 million Oura Ring devices since its 2015 debut, with more than half of those sales occurring in the past year alone.

The company reported revenue of more than $500m in 2024, doubling its growth from the previous year, and is on track to double revenue again in 2025, surpassing $1bn in annual sales while continuing to expand profitability.

“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 Tom Hale, chief executive officer at Ōura. “We’re proud to be building not just a product, but a global movement towards 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.”

Ōura has also announced David Shuman, founder of Lateralus Holdings and Ōura board member since 2016, as its chair of the board, succeeding Eurie Kim, who has served in the role since 2019.

“David has been a wonderful board partner to me during my tenure as chair and I look forward to continuing to collaborate with him as we help Ōura reach its potential,” said Kim.

Hale added: “Eurie and David have been instrumental in Ōura’s success. Since joining the board in 2019, Eurie has been a trusted partner as we’ve rapidly grown our consumer awareness. I look forward to her continued guidance on the board through the company’s next phase of growth. Ōura has benefited greatly from David’s leadership and good judgement across long-term strategy, fundraising, recruiting, partnerships and corporate development, and I know he’ll be instrumental in our continued success and growth as we enter our next chapter.”

The company will also expand its board of directors with the upcoming nomination of Wen Hsieh, founding managing partner at Matter Venture Partners. An electrical engineer by training, Hsieh has hard-tech investing and domain knowledge, having served as a managing partner at Kleiner Perkins and as chairman of the board at Ambiq Micro.

“Ōura’s growth and impact over the past year have been truly remarkable,” said Shuman. “The company has doubled revenue, expanded its global reach, and delivered transformations that are reshaping the wearables industry. I am grateful to Eurie for her leadership and wise counsel through this period of incredible growth. I’m also thrilled for Wen’s upcoming nomination to the board. He brings a wealth of knowledge regarding battery technology, custom silicon and intellectual property that will support Ōura’s mission to make health a daily practice.”

The funding round was led by Fidelity Management & Research with participation from new investor Iconiq and contributions from Whale Rock and Atreides.

The company recently introduced a product expansion with Oura Ring 4 Ceramic in new colours as well as the company’s first hardware accessory, the Oura Ring 4 charging case, and Health Panels, an integration that allows members to schedule and see the results of their lab tests directly in the Oura app.

Ōura (ouraring.com) delivers personalised health data, insights and daily guidance with Oura Ring. Founded in Finland in 2013 and now headquartered in San Francisco, Ōura has raised approximately $1.5bn and was last valued at approximately $11bn.