Oura Health Oy, the maker of Oura Health and Fitness Ring, is raising $875 million in a new Series E Finance Round, valued at around $10.9 billion, according to a new Bloomberg report.
The round, which is expected to close by the end of the month, will double the company’s $5 billion valuation from the Series D round announced last December. The report notes that the Series E round could still exceed $900 million.
Wella has sold 5.5 million rings so far, a marked increase from the 2.5 million reported in June 2024. The company is expected to generate more than $1 billion in revenue this year, double the $500 million that was made in 2024.
The company plans to use the new funds to expand production, expand internationally, and invest in product development.
Bloomberg said the company’s recent growth is driven by female consumers, retail sales, purchases made through health savings accounts and expansion into international markets.
