Oura Reportedly Plans September IPO at More Than $16 Billion
Smart-ring maker Oura is reportedly preparing a U.S. initial public offering as soon as September that could raise up to $3 billion and value the company at more than $16 billion. Bloomberg reported that investors are expected to sell a major chunk of stock in the offering. Oura has offices in San Francisco and Finland and employs more than 900 people.
The reported valuation would represent a substantial increase from the $10.9 billion assigned to Oura last September, when it closed an $875 million Series E financing round. That round was backed by Fidelity, ICONIQ, Whale Rock and Atreides, alongside earlier investors including Dexcom, The Chernin Group, Forerunner Ventures, Coatue and Temasek.
From confidential filing to reported offering plans
Oura announced in May that it had filed confidentially for an IPO. The reported September timetable and fundraising target have not been presented as final offering terms, but they indicate the scale at which the company could seek to enter the public market.
The filing followed a period in which Oura broadened its positioning beyond its original audience of biohacking chief executives. The company has developed into a more mainstream sleep-and-recovery brand, using its ring format to compete for consumers interested in wearable health and wellness products.
The company’s public-market preparation builds on Oura's confidential IPO filing as the Finnish smart-ring maker moved toward an IPO, while the new report points to a potential valuation and fundraising range.
Wearables competition is expanding
Oura’s potential listing comes as competition in wearables has become more crowded. Samsung launched the Galaxy Ring two years ago, adding a major consumer-electronics competitor to the ring category.
Fitness-band company Whoop has also broadened its offering. Once oriented around elite athletes and young men, Whoop has spent the past year targeting a wider audience with hormone tracking and blood-panel testing for perimenopause and thyroid health. That shift helped lift Whoop’s valuation to $10 billion in March.
The comparison underscores how wearable companies are seeking wider health and wellness use cases rather than relying on a narrow performance audience. For businesses monitoring the sector, Oura’s reported IPO plans make its eventual offering terms, investor share sales and disclosed operating data important indicators of how public investors assess this expanding market.