Smart ring maker Oura is reportedly preparing for a U.S. IPO as early as next month, with plans to raise up to $3 billion and a potential valuation above $16 billion, according to Bloomberg. The company, which has offices in San Francisco and Finland, now employs about 900 people.
If completed at that level, the offering would represent a sharp rise from Oura's $10.9 billion valuation last September, when it closed an $875 million Series E round supported by investors including Fidelity, ICONIQ, Whale Rock, and Atreides. Earlier backers also include Dexcom, The Chernin Group, Forerunner Ventures, Coatue, and Temasek.
The wearables market has become increasingly competitive, with brands expanding beyond basic activity tracking into broader wellness tools. Samsung entered the category with the Galaxy Ring, while Whoop has widened its focus with features tied to hormone tracking and blood-panel testing. Oura has followed a similar path, moving from a niche biohacking product toward a mainstream platform centered on sleep and recovery.
Oura said in May that it had confidentially filed for an IPO. If the listing moves forward, it could further define how premium wearable devices evolve from consumer gadgets into data-driven health companions, shaping the next phase of personal wellness technology.
