Money & People · NEWS BRIEF
Oura Hits Pause on Its IPO, But the Smart-Ring Money Doesn't
Oura postponed a US IPO despite ~90% expected revenue growth and an $11 billion valuation, while Ultrahuman raised $70 million and Whoop sits at $10.1 billion — late-stage capital keeps arriving even as exits stall.
Oura has postponed its planned US IPO, citing market uncertainty — a notable pause for a company that says it is profitable and expects fiscal 2026 revenue to grow about 90% year over year. The private-market numbers explain why the delay reads as timing rather than distress: Oura closed a $900 million-plus Series E led by Fidelity at an $11 billion valuation, having sold more than 5.5 million rings, with $1 billion projected for 2025 revenue.
“Oura isn’t just tracking sleep—it’s helping people understand their bodies, make better decisions, and take action toward long-term health.”
— Tom Hale, CEO, Oura
Capital is still arriving across the category. Ultrahuman raised $70 million in majority-equity funding with participation from Qualcomm Ventures and Labcorp to build a health-intelligence platform around its smart ring, blood testing and CGM products; Indian media reported the round values the company around $360 million, though the company itself did not disclose a figure.
“For the longest time, computers have understood almost everything about the world except the person using them. We want to change that.”
— Mohit Kumar, founder and CEO, Ultrahuman
Whoop, meanwhile, sits at a $10.1 billion valuation after a $575 million raise earlier in 2026.
The pattern is legible for operators and investors alike: the wearables category is attracting late-stage private capital on health-platform theses even as public markets wobble. The rings and straps keep selling. The exits are the part being rescheduled.