Oura Ring Maker Secures $75M from Dexcom, Valuation Soars to $5B: Health Tech Collaboration Set for 2025
Staff Editor Oura Secures $75 Million Investment from Dexcom, Valuation Soars to $5 Billion
Smart ring maker Oura has announced a significant $75 million investment from Dexcom, a leading glucose monitoring device company. This investment, part of Oura’s Series D funding round, has propelled the company’s valuation to over $5 billion.
The partnership between Oura and Dexcom aims to integrate Oura’s wearable technology with Dexcom’s glucose monitoring capabilities. Oura rings are expected to assist users in monitoring their blood sugar levels through seamless integration with Dexcom’s devices and applications.
Tom Hale, CEO of Oura, expressed enthusiasm about the collaboration, stating, “This integration will empower users to make more informed health decisions.” The first app integration resulting from this partnership is slated for release in the first half of 2025.
Dexcom, founded in 1999, has established itself as a pioneer in continuous glucose monitoring devices. Matt Dolan, Dexcom’s executive vice president, highlighted the partnership’s potential to attract new customers interested in understanding the relationship between activity, sleep, nutrition, and glucose levels.
As part of their agreement, Oura and Dexcom will engage in co-marketing and cross-selling initiatives for each other’s products, potentially expanding their market reach.
Oura’s market performance has been impressive, with 2.5 million rings sold to date. The company expects to double its annual sales to approximately $500 million in 2024 and is currently operating profitably.
This strategic partnership comes at a time when industry giant Apple is reportedly working on developing noninvasive glucose monitoring technology. A recent Bloomberg report suggests that Apple is testing an app for managing prediabetes, with potential future integration into its product lineup.
The Oura-Dexcom collaboration represents a significant development in the wearable health technology sector, potentially revolutionizing how individuals monitor and manage their glucose levels in conjunction with other health metrics.
