ŌURA

Finland-based ŌURA manufactures a sleep and personal wellbeing tracking ring. The ring, which is paired with an app, helps users track several facets of their life, including sleep, heart rate, fitness, wellness, and period cycles. Users can use the company’s companion app to see the results of the Oura ring’s sleep tracking, including access to sleep quality measurements, personalized suggestions on how to improve sleep quality,  measurements of blood oxygen, calorie tracking, workout tracking, and access to a library of audio wellness sessions. The app and ring can also help users track their period cycles based on changes to the user’s body temperature. The Oura app also has a community feature through which users can share their health metrics with chosen friends and family, send reactions, and check in on users in their “circle.”

In October 2023, ŌURA launched an AI-based journal function available to users via its app. This function enables users to record short journal entries using a single gesture to record moods and mental states, with Oura’s speech recognition software automatically transcribing the entry. The company also announced that later in 2023, it would launch a “stress resilience” function that will help provide insights, educational material, and recommendations for managing stress to improve overall health.  

The company operates on a D2C basis charging USD 299 to USD 349 per ring, which includes a six-month membership to the companion app. After this period, users have to pay USD 5.99 per month to access the app’s additional insights and content library. 

Key customers and partnerships

ŌURA has secured several partnerships with brands over its existence, including Gucci, Natural Cycles, and Therabody.

In July 2022, ŌURA partnered with fitness social network Strava to enable data sharing. Through the partnership, ŌURA users could share their fitness data seamlessly to the Strava platform. 

In April 2023, the company partnered with retailer giant Best Buy to begin offering its product in brick-and-mortar stores. Through the partnership, ŌURA signed its first US-based large scale retailer partnership, allowing its Oura ring to be sold through Best Buy’s 850 outlets and on Best Buy’s online platform across the US.          

In May 2023, the company partnered with Equinox, joining its luxury loyalty program Equinox Circle. The program provides members with access to an assortment of lifestyle, fashion, travel, nutrition, and entertainment brands. Through the partnership, Oura rings would be offered to Equinox members, along with exclusive branded Oura rings and accessories.  

In June 2023, ŌURA partnered with three glucose monitoring device providers, Veri, January, and Supersapien. The partnership enables Oura users to share biometric data with glucose monitoring providers to help better understand the relationship between fitness activities, data, and glucose levels.  

ŌURA partnered with Talkspace in August 2023 to offer members the ability to share personalized sleep and activity data with their dedicated therapists. This partnership enabled therapists to gain insights into the relationship between sleep quality, physical activity, and mental health. By reviewing trends in sleep and movement patterns between visits, therapists could better understand patient progress, collaborate to create customized treatment plans, and set collaborative health goals.

ŌURA then partnered with fellow meditation and psychological wellness provider Headspace in October 2023, to help further Headpsace’s mission of revolutionizing mental health wellness. Through the partnership, Oura announced a new feature for its ring, “Daytime Stress,” which helps Oura users identify specific stress triggers via changes in heart rates and temperature. After being alerted to high-stress situations, Oura users are able to access Headspace’s stress-focused content like guided meditations, breathing exercises, and muscle relaxation techniques to help users overcome specific stress triggers.

ŌURA additionally expanded its retail partnership with Best Buy in October 2023 to begin selling Ōura rings at 124 Best Buy locations across Canada in addition to them being sold in Best Buy locations across the US. Additionally, 25 locations in Canada would include a “shop-in-shop” experience that will involve educational videos, interactive experiences, and the ability to browse various Ōura ring styles and sizes.

Funding and financials

In April 2022, ŌURA raised funding at a valuation of USD 2.55 billion. The investors were not disclosed. The raised funds were set aside to expedite investment into its R&D, a library of personalized and guided content, and product and science innovation.