Oura Secures $200 Million in Funding with Dexcom Investment

Oura disclosed today its successful closing of a $200 million Series D funding round, featuring investment from Dexcom (Nasdaq:DXCM). Participants in this round included Dexcom and Fidelity Management & Research Company. This financial boost marks a fresh alliance in health monitoring between Dexcom, renowned for its continuous glucose monitoring (CGM) systems, and Oura, developers of innovative smart ring technology. \n\nBased in San Francisco, Oura reveals that this funding round elevates its valuation to $5.2 billion. The new influx of capital highlights Oura’s robust position at the forefront of the smart ring sector. The company plans to utilize this capital for product expansion, furthering investment in areas like artificial intelligence, and bolstering its global reach. Additionally, Oura looks to explore potential acquisitions to fuel accelerating growth.\n\nThe Oura ring offers a holistic health view to its users, and the company is rapidly scaling, having sold over 2.5 million devices. In anticipation, Oura projects an annual sales increase, aiming to hit approximately $500 million by 2024. The brand also recently launched a “Meals” tracking feature to help users understand the effects of food on their health—an enhancement particularly beneficial to those managing diabetes, with meal timing being essential to treatment.\n\n”With this continued momentum and support from investors, we are moving forward with renewed confidence,” stated Tom Hale, CEO of Oura. “Our steadfast progress in making health an everyday habit is further enabled by this funding. Our focus remains centered on developing AI-driven solutions. We firmly believe that ŌURA can transform lives at large, and we are thrilled to keep setting the pace in innovation, while exploring new opportunities beyond what our smart ring currently offers.”