Oura, the Finnish maker of health-tracking smart rings, has confidentially filed for an initial public offering in the United States. The company submitted paperwork to the U.S. Securities and Exchange Commission, though the number of shares to be offered and the price range for the proposed offering have not yet been determined. Some reports indicate the company aims to list later this year.
Oura produces the Oura Ring, a wearable device designed to track health metrics including sleep, activity, heart rate, and skin temperature. The product provides personalized wellness insights and guidance intended to help users reduce stress and improve their sleep.
The move toward a public listing follows a funding round in October where the company raised over $900 million in a Series E round led by Fidelity Management & Research Company. This funding valued Oura at approximately $11 billion, which is more than double its $5.2 billion valuation from December 2024.
By filing confidentially, Oura can prepare for its IPO away from public market scrutiny. The filing comes as the U.S. IPO market bounces back after a brief lull in March, as investors look past geopolitical uncertainty to invest in new listings.