ŌURA Health, an Oulu, Finland-based provider of a health tech wearable that provides daily personalized sleep and overall health insights, raised $100m in Series C funding.
The round, which brought total funding to $148.3m, was led by The Chernin Group and Elysian Park, the investment arm of the LA Dodgers; Temasek, JAZZ Venture Partners, and Eisai Co., Ltd.; growth investors Bedford Ridge and One Capital, as well as existing investors Forerunner Ventures, Square, MSD Capital, Marc Benioff, Lifeline Ventures, Metaplanet Holdings, and Next Ventures.
The company intends to use the funds to invest in all areas of business, including Software and Hardware Development, People, Research & Development, Marketing, and Customer Experience.
Led by Harpreet Singh Rai, CEO, Oura provides a health tech wearable that provides actionable insights on sleep and its impact on overall health. The ring tracks all stages of sleep and accounts for daily activity to provide practical steps for long-term improvement. Founded in 2013, ŌURA is now used by top performers, including Jack Dorsey, Michael Dell, Arianna Huffington, Marc Benioff, the NBA, the WNBA, NASCAR, UFC, and more. The company also has offices in Helsinki and San Francisco.
The new round follows the company’s work during COVID-19, as the Oura Ring was one of the first wearables used by an academic research institution, University of California, San Francisco (UCSF), to conduct research during the pandemic. The early research findings led Oura to partnerships with sports leagues and organizations as they went back to work during the pandemic. The NBA, WNBA, UFC, NASCAR, Aston Martin Redbull Racing, and the Las Vegas Sands casino group used the rings and the company’s Health Risk Management (HRM) platform to prioritize the health and safety of employees.
Oura Rings have also been used in recent research studies at West Virginia University’s Rockefeller Neuroscience Institute, and DTRA / DIU, contributing to a growing body of research on illness detection, symptom profiles, and recovery. The UCSF TemPredict study recently published peer-reviewed results, demonstrating the connection between its temperature data and the detection of fever onset.
Oura will also continue to develop within new use cases focused on recovery, activity, illness, mental health, and women’s health. Additionally, the company will be enhancing its app experience to further prioritize guidance in order to allow people to understand what to do with the data they are given.
The Oura Ring is not a medical device and is not intended to diagnose, treat, cure, monitor, or prevent medical conditions/illnesses.