ŌURA Health, the company behind the health tech wearable that provides daily personalized sleep and overall health insights, announced its Series C funding round of $100 million.
Oura said funds will be used to invest in all areas of its business, including Software and Hardware Development, People, Research & Development, Marketing, and Customer Experience.
“These funds provide Oura with substantial runway for important future opportunities.”Harpreet Singh Rai, Oura CEO
The Series C — which according to several news reports valued the firm at around $800 million — was led by new investors including consumer and sports investors The Chernin Group and Elysian Park, the investment arm of the LA Dodgers; health investors Temasek, JAZZ Venture Partners, and Eisai Co., Ltd.; growth investors Bedford Ridge and One Capital.
“The wearables industry is transitioning from activity trackers to health platforms that can improve people’s lives. Oura focused first on sleep because it’s a daily habit, and lack of sleep has been linked to worsening health conditions including diabetes, cardiac disease, Alzheimer’s, cancer, poor mental health, and more.”Harpreet Singh Rai, Oura CEO
“The pandemic showcased how crucial our health is to everyone in our day-to-day lives, and the consumer mindset has shifted even more towards having agency and understanding over individual health. Eventually, wearable technology will change the way health is practiced by consumers and the healthcare industry, and we’re excited to continue to grow and invest in this area,” he said.
Oulu-born Oura has raised in total almost $150 million and it has sold more than 500,000 rings to date.
“The awareness of the importance of sleep on every aspect of life and health is just beginning to hit an inflection point; and, with Oura, people can gain meaningful understanding and guidance around their sleep, activity, and overall well-being in a way that makes managing health an integral, achievable part of our daily lives.”Eurie Kim, Managing Director Forerunner Ventures