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Fitness Ring Maker Oura Raises $100 Million

Fitness Ring Maker Oura Raises $100 Million

Fitness Ring Maker Oura Raises $100 Million

Health technology company, Oura, has announced a $100 million Series C investment round today, bringing the company’s total funding up to $148.3 million.

The Series C round comes on the heels of the company’s effort to set itself apart from other health tech competitors who have focused their efforts on wrist accessories. To date, Oura has sold over 500,000 rings.

The company has also made strong efforts into health research, publishing peer-review studies around the ring’s temperature monitor – a feature that has brought on a lot of attention as temperature spikes could point to larger issues, including the early stages of COVID-19.

The company plans to use the round to fund its marketing and customer experience efforts, grow the Oura team, and accelerate its R&D efforts in both hardware and software.

Oura has already filled a few key roles. The company has hired Shyamal Patel as head of science; site leader Tommi Heinonen and Daniel Welch, who has been promoted to CFO.

The round was led by The Chernin Group and Elysian Park – the Dodgers’ investment arm, in addition to some new investors including Temasek, JAZZ Venture Partners and Eisai and existing investors Forerunner Ventures, Square, MSD Capital, Marc Benioff, Lifeline Ventures, Metaplanet Holdings and Next Ventures.

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