- My News
- All News
- Most Popular
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."
Did you like this article?