Smart Ring ŌURA Officially Files for IPO, Expects $2 Billion in Sales This Year
On May 21, smart ring brand ŌURA announced that it has confidentially submitted a draft registration statement for an initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC). The company did not disclose a specific IPO timeline, only stating that it will proceed after the SEC completes its review process, subject to market and other conditions.
ŌURA smart ring was launched in 2015 and has since evolved into a comprehensive health product with features far beyond sleep tracking. In recent years, ŌURA has increasingly focused on enabling the ring's preventive health capabilities through new features, artificial intelligence, data analysis, and other technologies.
According to financial data released in September 2025, ŌURA has sold over 5.5 million smart rings. ŌURA CEO Tom Hale said in a CNBC interview last November that the company's sales are expected to exceed $1 billion in 2025, double that of 2024, and sales in 2026 are projected to approach $2 billion.
The official website shows that the ŌURA Ring 4 is priced at $349, while the ceramic version (below) costs $499.
The company recently reported that its paid membership is expected to surpass 5 million this quarter, quadrupling over the past two years. The growth in paid members has also driven a fourfold increase in total revenue over the same period.
ŌURA's latest funding round was in October 2025, when it completed a Series E round of over $900 million, achieving a post-money valuation of $11 billion. Since its inception, the company has raised over $1.5 billion in total funding. Notable investors include Fidelity Investments, ICONIQ Capital (a wealth management firm for Silicon Valley elites), and Singapore's sovereign wealth fund Temasek.
ŌURA was founded in 2013 by Petteri Lahtela, Kari Kivelä, and Markku Koskela in the Finnish city of Oulu:
Petteri Lahtela (center below) has extensive experience in telecommunications, chronic disease prevention, and private healthcare, having worked at several Finnish tech companies; Kari Kivelä (left below) brings product and engineering experience from Finnish tech giants Nokia and Polar (a well-known heart rate monitoring brand); Markku Koskela (right below) has a background in industrial design and R&D, focusing on integrating technology with ergonomics.
ŌURA's founders and core team sold their shares between 2020 and 2021. In 2022, after current CEO Tom Hale took office, the company's legal domicile was changed to Delaware, USA. Following the Series E round in 2025, the company leased multi-story office space in San Francisco, which will serve as the hub for ŌURA's U.S. R&D, operations, and commercial teams. Tom Hale himself is based in San Francisco.
Recently, ŌURA also entered into a five-year partnership with the United States Tennis Association (USTA), becoming the official sponsor and wearable fitness device partner of the US Open, USTA, and USTA Coaching. (Related reading: Smart Ring ŌURA, Valued at $11 Billion, Becomes First Wearable Health Device Partner of the US Open)
Earlier this year, ŌURA also announced it would be the official wearable device supplier for the U.S. Olympic Team and the Los Angeles 2028 Olympic and Paralympic Games.
| Sources: Official press release, CNBC, Reuters
| Image credits: Official website; brand's official social media;