Oura’s Sleep-Tracking Ring Raises $100 Million To Move Further Into Personalized Health - (Forbes via NewsPoints Desk)

  • Oura has raised a $100 million Series C funding round, Forbes reported on Tuesday.

  • According to a source with knowledge of the deal, the investment values the company at $800 million.

  • CEO Harpreet Singh Rai says Oura plans to invest the new funds in its R&D and product, as well as build out its marketing arm, adding that the company is also open to acquisitions.

  • Oura's headcount increased over the past year from about 100 to 250, while sales of Oura rings, now in their less-bulky second generation, reached 500,000 to date, up from 150,000 about a year ago.

  • "I don't think wearables can diagnose or treat yet, but the idea is of an early warning light to go see a medical professional if something is wrong," said Singh Rai.

  • He added that the wearables market is still small, and claims that Fitbit adding sleep tracking boosted Oura sales instead of hurting them.

  • Over time, Singh Rai expects the industry to settle on a few best practices, with the combination of hardware and a paid content subscription, noting that "I think you can think about the future of the wearable industry, including us, the same way."

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