Key facts
- Oura is reportedly planning a U.S. IPO in September.
- The IPO could value the company at over $16 billion.
- Oura aims to raise up to $3 billion.
- Investors are expected to sell a significant portion of stock.
- Oura's previous valuation was $10.9 billion in September.
Oura, the smart ring manufacturer, is reportedly preparing for a U.S. initial public offering (IPO) as early as September, with aspirations to achieve a valuation exceeding $16 billion. The company is also looking to raise approximately $3 billion through the offering, during which investors are expected to divest a substantial portion of their holdings.
This potential IPO valuation represents a significant increase from Oura's previous valuation of $10.9 billion, established during its $875 million Series E funding round last September, which saw participation from investors like Fidelity and ICONIQ.
The competitive landscape for wearables is intensifying, with Samsung's Galaxy Ring emerging as a contender. Oura's primary competitor is considered to be Whoop, a fitness band maker that has broadened its appeal beyond elite athletes to include health tracking for a wider demographic, reaching a $10 billion valuation in March.
Oura itself has shifted its focus from a niche biohacking market to a more mainstream sleep and recovery brand. The company had previously announced its confidential filing for an IPO in May.
However, Oura has also faced recent scrutiny. A class action lawsuit filed in San Francisco alleges that the company misled consumers regarding the accuracy of its sleep tracking features. Oura has stated its intention to defend against these claims, asserting that while its ring is not a medical device, its sleep staging accuracy has been validated against clinical standards in multiple independent studies.