Total amount raised
$348.3 Millions
Latest funding date
Location
Title
Oura has successfully raised $200 million in its latest funding round, attracting significant interest from investors. The company is known for its innovative wearable technology, specifically the Oura Ring, which focuses on fitness, stress management, sleep tracking, and overall health monitoring.
Keep reading to explore the intricacies of Oura's fundraising journey and the investors backing this cutting-edge health tech company.
What Is Oura?
Oura, founded in 2013 by Markku Koskela and Petteri Lahtela, is headquartered in Oulu, Finland. The company specializes in developing wearable technology, specifically the Oura Ring, which tracks sleep, fitness, and overall health metrics.
With a team of 251-500 employees, Oura has made significant strides in the health tech industry. The Oura Ring uses advanced sensors to monitor various biometrics, providing users with valuable insights into their health and wellness.
For more information, you can visit their official website or check out their Crunchbase profile.
How Much Funding Has Oura Raised?
- Seed Round
- Amount Raised: $2.3M
- Date: November 2015
- Lead Investors: Lifeline Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial prototype of the Oura Ring and bring it to market.
- Series A
- Amount Raised: $6M
- Date: September 2016
- Lead Investors: Harpreet Rai, Jaan Tallinn
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and enhance the technology of the Oura Ring.
- Series A
- Amount Raised: $6M
- Date: April 2018
- Lead Investors: Bold Capital Partners, Tesi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve the user experience.
- Series A
- Amount Raised: $6M
- Date: October 2018
- Lead Investors: DFO Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and increase market penetration.
- Series B
- Amount Raised: $28M
- Date: March 2020
- Lead Investors: Forerunner, Gradient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the technology and expand the team.
- Series C
- Amount Raised: $100M
- Date: May 2021
- Lead Investors: Elysian Park Ventures, TCG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Series D
- Amount Raised: $200M
- Date: November 2024
- Lead Investors: Dexcom, Fidelity
- Valuation at Round: $5B
- Motivation Behind the Round: To integrate Dexcom's glucose data with Oura's health metrics.
Total Amount Raised: $348.3M. Current Valuation: $5B.
Key Investors
- Dexcom
- Details: Dexcom is a leading company in the field of continuous glucose monitoring (CGM) systems. They are known for their innovative technology that helps people with diabetes manage their condition more effectively.
- Investment Focus Areas: Health technology, diabetes management, wearable devices.
- Notable Investments: Primarily in health technology companies.
- Fidelity
- Details: Fidelity is a multinational financial services corporation offering a wide range of investment management, retirement planning, and brokerage services. They are one of the largest asset managers in the world.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Investments across various sectors including technology and healthcare.
- Forerunner
- Details: Forerunner Ventures is a venture capital firm that focuses on early-stage investments. They are known for backing companies that are redefining consumer experiences.
- Investment Focus Areas: Consumer technology, e-commerce, retail.
- Notable Investments: Glossier, Warby Parker, Away.
- Gradient
- Details: Gradient Ventures is Google's AI-focused venture fund. They invest in early-stage startups that are leveraging artificial intelligence to solve significant problems.
- Investment Focus Areas: Artificial intelligence, machine learning, software.
- Notable Investments: Algorithmia, Labelbox, Lilt.
- Elysian Park Ventures
- Details: Elysian Park Ventures is the private investment arm of the Los Angeles Dodgers ownership group. They focus on sports, technology, and health and wellness sectors.
- Investment Focus Areas: Sports technology, health and wellness, media.
- Notable Investments: Hyperice, Whoop, Tonal.
What's Next for Oura?
Oura's future looks promising with the integration of Dexcom's glucose monitoring technology, opening new avenues in health metric tracking. This partnership positions Oura to compete with major players like Apple in the noninvasive glucose tracking market. With 2.5 million rings sold and expected sales of $500 million next year, the opportunities are vast.
Future fundraising efforts could focus on scaling production and enhancing marketing strategies to capitalize on these opportunities. However, challenges such as integrating Dexcom's technology and maintaining growth amidst fierce competition will need to be navigated carefully.
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