The smart ring maker Oura has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The company is currently valued at around $11 billion.
Oura is collaborating with Goldman Sachs, Morgan Stanley, JPMorgan Chase, and other financial institutions for its transition from private to public status. An insider indicated that the IPO is expected to occur later this year, though no specific date has been provided.
Founded in 2013, Oura’s valuation has increased, significantly boosted by a recent funding round that raised $875 million. CEO Tom Hale reported that Oura has sold 5.5 million rings to date, and he projected revenue to rise to $1.5 billion this year, which would be a threefold increase compared to 2024.
Oura has received positive feedback regarding its smart rings, with the Ring 4 being described as a “technological marvel” and “out ahead of its rivals.” Despite limitations in form factor, the company has managed to integrate extensive technology into its products.
Oura joins a number of tech companies that are pursuing IPOs. Reports indicate that OpenAI might also go public as soon as September, and SpaceX has filed paperwork with the SEC to trade on the Nasdaq under the ticker SPCX.
On May 22, Oura confirmed to have submitted a draft registration with the SEC to officially begin its IPO process.
