Ten years of Oura Ring: doubled company value, partnerships, and lawsuits

The company has sold more than 5.5 million rings since its launch in 2015.

Finnish health technology company Oura Health is now valued at almost $11 billion after selling around 3 million smart rings last year.

The company has already raised $875 million in its latest financing round, valuing it at around $10.9 billion. This is more than double Oura’s $5 billion valuation in November 2024.

The new round could close at the end of September, exceeding $900 million. The company plans to use the money to scale production, invest in development, and expand to other countries, reports Bloomberg.

In total, Oura Health has sold 5.5 million smart rings. The company is on its way to achieving a billion dollars in revenue in 2025, doubling the sum earned last year.

It’s expected that next year’s sales will exceed $1.5 billion.

The company’s recent success has been increasing due to female user interest, sales in retail stores, purchases made through health savings account funds, and growth in other countries. Among Oura’s business consumers is the US military, whose service members use the ring for research purposes and fatigue tracking.

So far, Oura devices are available in 4,000 stores. This year, Oura introduced its wearable to Japan and Germany and plans to expand further.

The company’s CEO, Tom Hale, shared that 20% of Oura’s revenue comes from subscriptions.

Oura is the only smart ring brand that requires a subscription, while other companies, such as Samsung, Ultrahuman, and RingConn, do not charge such a fee.

Oura Ring minimizes its competition

While smart rings are becoming more popular wearables, Oura seems to be taking measures to remain the number one choice in the category.

Recently, the company sued two other ring manufacturers, Ultrahuman and RingConn, for infringing its patent.

Oura Health won the lawsuit after the US International Trade Commission (ITC) found that the two companies infringed Oura’s design and utility patents.

Thus, starting October 21st, 2025, the two brands will no longer be able to sell their devices in the US.

What’s next for Oura Ring?

In terms of user experience, Oura Ring also experienced a few hiccups. One was reported by users who noticed their devices were not tracking their activity during certain hours. It took Oura about a month to fix the issue.

The company launched its latest device, Oura Ring 4, in October 2024. It’s been reported that Oura Health may release a hardware update every year.

The company has also collaborated with Stelo by Dexcom, a company offering over-the-counter glucose biosensors. This partnership allows users to follow their glucose levels via the Oura app.

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