Oura, the Finnish-American smart ring manufacturer, is preparing to go public as early as September with an anticipated valuation exceeding $16 billion. The company plans to raise approximately $3 billion through its initial public offering, with existing investors expected to divest significant holdings during the transaction. This represents a substantial increase from Oura’s $10.9 billion valuation just one year ago, when it secured $875 million in Series E funding.
The wearables market has intensified considerably in recent years, with major competitors including Samsung’s Galaxy Ring and performance-focused brand Whoop, which reached a $10 billion valuation in March. Both Oura and Whoop have expanded beyond their original niches to attract mainstream consumers interested in health and wellness tracking. Oura has similarly evolved from targeting biohacking enthusiasts to positioning itself as a comprehensive sleep and recovery platform, driving impressive revenue growth from $500 million in 2024 to an anticipated $2 billion in 2026.
The company’s path to the public markets faces potential headwinds. A recently filed class action lawsuit alleges that Oura has misrepresented the accuracy of its sleep-tracking capabilities, claiming the technology cannot achieve clinical-grade precision without specialized medical equipment. Oura has disputed these allegations, citing multiple independent studies validating its sleep staging technology against industry standards and reaffirming the company’s commitment to transparent accuracy reporting.
Originally reported by Techcrunch →
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