“Can a health wearable company — armed with biometric-grade identity data and 5.5M ring users — become the authentication and payments layer for digital identity?”
Founded in 2013 as a hardware-focused health wearable company in Oulu, Finland, Oura built the smart ring category around sleep and recovery tracking. After pivoting to a subscription-driven data platform model (membership fee), the company scaled to 5.5 million rings and ~$1B in annual revenue by 2025. The 2023 acquisition of identity firm Proxy signals a longer-term move into wearable-based digital identity and payments, positioning the Oura Ring as potential authentication infrastructure beyond health. The confidential S-1 filing in May 2026 marks the next chapter as a public company.
Oura's lending and capital products are provided by Affirm.
Oura was founded by Petteri Lahtela, Kari Kivelä and Markku Koskela and is founded in 2013, headquartered in Oulu, Finland.
Oura has raised $1.1B+ in total (latest round: Series E, October 2025; valuation: $11B post-money (2025)).
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