Oura, the producer of wearable health rings, has secured a $250m debt facility from JPMorgan Chase, Goldman Sachs, Bank of America, Barclays, Citi and Wells Fargo.
The Finnish company, founded in 2013, also reported revenues doubled between 2023 and 2024, and projects it to double again this year. It expects to reach $1bn in sales in 2025, thanks to the surge in demand for wearable technology.
Oura, which makes wearables that allow users to track their biometric data in pursuit of leading longer and healthier lives, has sold more than 5.5m rings, with 2.5m of those shipped since last year.
In December last year the company topped up its Series D with $125m in funding from investors including Fidelity Management & Research Company, which took the round’s total to $200m and maintained the $5.2bn valuation it hit the month before.
Petteri Lahtela, Oura's cofounder and former CEO, told the Sifted podcast last year that “the market has evolved in a nice way for Ōura.”
“Our passion has been to be a very meaningful product for our optimal target audience. And we've been lucky that this optimal target audience has grown continuously, and now it's 10s of millions of people.”
According to the company, 51% of its customers manage at least one chronic condition, and 11% of Oura’s total members are healthcare providers.
The debt funding will be used to support existing operations and growth initiatives.
This new financing comes after a busy autumn of dealmaking last year, when the company acquired Finnish glucose monitoring startup Veri in September and US health data firm Sparta Science, as part of its push to expand beyond sleep tracking.
Update 23/9/25: Sifted clarified Oura secured a debt facility as opposed to raising new funds via debt.
