Startup profile · funding coverage
Oura funding, valuation and investors
Maker of Oura Ring and a connected health subscription; delayed its planned US IPO on September 29, 2026 after a $900M+ Series E at an approximately $11B private valuation in 2025.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series E
More than $900M · October 14, 2025
Latest known valuation
Approximately $11B
Series E · October 14, 2025
Total disclosed equity funding
$1.1B
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
growth · Finland; US operations in San Francisco
Investors in latest funding
Lead: Fidelity Management & Research Company
Other: ICONIQ , Whale Rock , Atreides
Overview
Oura develops smart rings and a paid health platform covering sleep, readiness, activity and other biometric trends. It announced a $200M Series D in December 2024 at a $5.2B valuation, followed by more than $900M in Series E funding led by Fidelity Management & Research Company in October 2025 at roughly $11B.
In September 2026, Oura had publicly filed for a Nasdaq initial public offering and marketed a proposed $40–$44 per-share range, but postponed the offering on September 29 due to IPO-market uncertainty. The proposed roughly $13.5B market capitalization at the midpoint was not an actual public trading valuation. The company reported 5.7M paid members at the postponement, and media reported more than 6M on October 22.
Alumni Ventures lists Oura in its official portfolio; its specific check and entry round are not publicly established by these releases.
Why Oura is interesting
Oura is a useful case study in separating valuation types: its last announced private round priced the company around $11B, whereas a proposed September 2026 IPO price range implied a different public-market valuation that never became a trading price. Hardware sales and subscription retention determine the investment thesis.
Product & use cases
Oura Ring is a screenless wearable that measures biometric signals and surfaces sleep, activity, stress and readiness insights through the Oura app. A paid membership provides ongoing analysis and personalized features.
- Sleep, recovery, activity and readiness tracking
- Cycle and reproductive-health pattern awareness using wearable signals
- Population and employee wellness insights through business partnerships
Key facts
- Sep 29, 2026: delayed a proposed Nasdaq IPO; no shares were priced or traded as a result of that postponed offering.
- Proposed IPO indicated 50M shares at $40–$44, or around $2.1B gross proceeds at midpoint; most shares were secondary.
- Oct 14, 2025: more than $900M Series E led by Fidelity at approximately $11B private valuation.
- Dec 19, 2024: $200M Series D at $5.2B private valuation.
Funding history (newest first)
Series E
2025-10-14 More than $900M Valuation: Approximately $11B- Fidelity Management & Research Company (lead)
- ICONIQ (participant)
- Whale Rock (participant)
- Atreides (participant)
Source: Read source · ouraring.com
Series D
2024-12-19 $200M Valuation: $5.2B- Fidelity Management & Research Company (participant)
- Dexcom (participant)
Source: Read source · ouraring.com
Investors in our directory
Funds linked from Oura's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Combining ring hardware, longitudinal biometric measurements and paid app subscriptions can increase engagement. Oura competes with major wearable platforms and must justify subscription value, hardware replacement cycles and data privacy.
IPO investors should separate Oura's $11B 2025 private mark from the implied value of a September 2026 proposed offering. A marketing range does not guarantee actual pricing, and 5.7M paid members are a company-reported activity figure, not the same as device unit sales or free cash flow.
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Ultrahuman direct
Smart-ring competitor; differentiated subscription strategy and feature mix.
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Samsung Galaxy Ring direct
Ring wearable sold through a major smartphone ecosystem.
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Whoop adjacent
Subscription-based recovery and performance wearable with different form factor.
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Apple Watch incumbent
Smartwatch ecosystem with sleep and health sensing, but a different device format.
Industries
Market / IPO context
IPO status: filed
Note: Last company-announced private mark: about $11B in October 2025. A proposed September 2026 IPO midpoint implied roughly $13.5B but listing was postponed on September 29, 2026; the proposal did not establish a market capitalization.
Editorial / static context — not a live quote.
FAQs about Oura
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