Taking the Health Ring Brand’s Valuation Past $5 Billion, the Partnership Focuses on Metabolic Health
The health tracking ring brand, Oura, has unveiled a $75 million series D investment from Dexcom, a company specializing in continuous glucose monitoring. As a result, Oura’s valuation now surpasses the $5 billion mark. With over 2.5 million of its rings sold and its member base tripled in the past three years, the brand is looking forward to reaching sales of around $500 million this year.
Apart from the financial boost, Oura and Dexcom are moving forward with a collaboration that enables a “two-way data flow”. This partnership means that users will be able to monitor their metabolic health using data provided by and shared across both the Oura and Dexcom apps. The integration of the two apps is predicted to roll out in the first half of 2025.
Oura chief executive officer Tom Hale stated, “Ninety-seven percent of Oura members have expressed interest in understanding how the food they eat impacts their health. This partnership with Dexcom will enable us to empower our members to make informed decisions and adjust behaviors to positively impact their biometrics and long-term health. Working together, Oura and Dexcom will help members decide what and when to eat by surfacing correlations between activities like sleep and exercise and members’ glucose levels, and because we know that people are affected differently by the same foods and activities, guidance and insights will be personalized.”
Dexcom sees the partnership as an avenue to introduce continuous glucose monitoring to a broader customer base. The firm recently launched Stelo, an FDA-approved over-the-counter glucose biosensor, marking a departure from the need for prescriptions for continuous glucose monitors. Matt Dolan, executive vice president of strategy and corporate development at Dexcom, said, “Partnering with Oura gives us the opportunity to redefine the category again, integrating data from Dexcom glucose biosensors with the continuous insights and metrics measured by Oura Ring. This powerful combination will attract new shared customers who want to better understand the link between activity, sleep, nutrition and their glucose.”
In order to further emphasize metabolic health, Oura recently acquired Veri, a health tech company that gives insights through continuous glucose monitors. Additionally, it introduced Meals, a new feature which allows users to track what they consume and understand its impact on their overall health, on its opt-in testing platform, Oura Labs. Other significant recent advancements include the acquisition of Sparta Health, a software firm that leverages health data to deliver actionable advice to users; the release of Oura’s latest and more sleekly designed ring; and an updated, comprehensive app experience.