Oura Health Oy, the maker of the Oura health and fitness ring, is raising $875 million in a new Series E financing round valuing it around $10.9 billion, according to a new report from Bloomberg.
The round, which is expected to close by the end of the month, would double the company’s $5 billion valuation from its Series D round announced last December. The report notes that the Series E round could still exceed $900 million.
Oura has sold 5.5 million rings to date, a notable increase from the 2.5 million reported in June 2024. The company is expected to generate more than $1 billion in revenue this year, doubling the $500 million it made in 2024. As for 2026, the company forecasts sales to exceed $1.5 billion.
The company plans to use the new funding to scale production, further expand internationally, and invest in product development.
Bloomberg notes that the company’s recent growth has been driven by female consumers, retail store sales, purchases made through health savings accounts, and expansion into international markets.