Smart ring maker Oura reportedly eyeing September IPO valuing it above $16B
Oura is reportedly planning a U.S. IPO as soon as next month, aiming to raise up to $3 billion at a valuation exceeding $16 billion, according to Bloomberg.
Oura, the smart ring maker based in San Francisco and Finland, is reportedly preparing to go public in the U.S. as soon as next month, according to a Bloomberg report. The more than 900-person company is said to be targeting a raise of up to $3 billion, with the offering potentially valuing Oura at more than $16 billion. A significant portion of the shares sold are expected to come from existing investors.
The figure represents a sharp jump from the $10.9 billion valuation Oura received last September, when it closed an $875 million Series E round led by Fidelity, ICONIQ, Whale Rock, and Atreides, adding to a backer list that already included Dexcom, The Chernin Group, Forerunner Ventures, Coatue, and Temasek. Oura had already disclosed in May that it had filed confidentially for an IPO.
A crowded wearables market
Competition in the health-wearables space has intensified quickly. Samsung entered the category two years ago with its Galaxy Ring. But Oura's closest rival may be fitness band maker Whoop, which has reinvented itself over the past year, expanding from a tool built for elite athletes into a broader consumer product by adding hormone tracking and blood-panel testing aimed at perimenopause and thyroid health. That repositioning helped push Whoop's valuation to $10 billion in March. Oura has followed a comparable trajectory, moving from a niche following among biohacking-focused users toward a more mainstream sleep-and-recovery brand.
Lawsuit over sleep-tracking claims
Not all recent attention on Oura has been favorable. A proposed class action filed last week in San Francisco accuses the company of misleading customers about the accuracy of its sleep-stage tracking, arguing that precisely identifying sleep stages requires clinical-grade equipment unavailable outside a hospital setting. In response, an Oura spokesperson told TechCrunch that the ring is not a medical device but that its sleep-staging technology has been validated in multiple independent studies against polysomnography, the clinical gold standard. The company said it disputes the allegations and intends to contest them in court.
