Oura, the Finnish smart ring maker, has confidentially filed for an IPO with the SEC. The company's recent funding round valued it at $11 billion, up from $5 billion in 2024.
More than 5.5 million Oura rings have been sold, with CEO Tom Hale projecting $2 billion in revenue by 2026-up from $500 million two years ago.
The company competes with Apple, Garmin, and Samsung but stands out with its less obtrusive ring design. Oura has expanded into software, subscriptions, and AI-powered health analysis.
The planned US listing reflects a trend among European tech firms seeking deeper capital markets in the US. It's seen as a test of investor appetite for wearable technology and smart rings.