Oura is reportedly eyeing a September IPO that could value it at more than $16B
Oura, the maker of smart rings, is reportedly planning a September IPO with a valuation exceeding $16 billion. The company is pivoting from a niche biohacking tool to a mainstream health and recovery brand to compete with Samsung and Whoop.
Why it matters
The high valuation of Oura reflects the growing investor interest in the health-tech and wearable device sector as it moves toward mass-market adoption.
Oura, the smart ring maker, with offices in San Francisco and Finland, is reportedly planning to raise up $3 billion as soon as next month in a U.S. IPO that values the more than 900-person company at north of $16 billion , according to Bloomberg. The outlet adds that investors are expected to sell a major chunk of stock in the offering.
A $16 billion valuation would mark an enormous jump from the $10.9 billion valuation Oura was assigned last September, when it closed an $875 million Series E round backed by Fidelity, ICONIQ, Whale Rock, and Atreides, joining earlier backers like Dexcom, The Chernin Group, Forerunner Ventures, Coatue, and Temasek.
The wearables space has gotten crowded fast.
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