Sleep Improvement Company Oura Raises More Than $20 Million

By Dan Anderson ● December 5, 2018

Oura Health announced that it has raised more than $20 million in funding from a number of prominent investors. This round of funding was led by MSD Capital (private equity firm linked to Michael Dell). YouTube co-founder Steve Chen, Twitch co-founder Kevin Lin, and Sunrise founder Dave Morin also participated in this round.

Co-founders from Box, Skype, Oak, JUMP, Freefly, and Soylent also joined this round along with renowned athletes Drew Brees, Apolo Anton Ohno, Shaquille O’Neil, Jimmy Johnson, Lance Armstrong, Manu Ginobili, Nick Foles, Earl Thomas III, and Keisuke Honda. Will Smith (celebrity), author Neil Strauss, author Sam Harris, and Chef David Chang participated as well.

Oura has developed a smart ring ensures precise sleep performance and tracks holistic sleep habits through two infrared LEDs that measures blood volume pulse directly from the palmar arteries of the finger.

The Oura Ring also has a 3D accelerometer and gyroscope that detects the direction and intensity of your body movement and three NTC temperature sensors that track temperature variation. And through the Oura Cloud, it enables medical researchers and professional athletes to customize their own analysis and sleep optimization.

“We are thrilled to have such a talented group of builders, champions, and creators join us as investors,” said Oura chief executive Harpreet Rai in a statement. “It’s amazing to see how such a diverse group of investors all recognize the universal importance of sleep.”

Apolo Anton Ohno, an eight-time medalist in the Winter Olympics, said that Oura helped him realize that sleep improves performance and investing in sleep can improve many aspects of his day-to-day life. And Michael Dell, the founder and CEO of Dell Technologies, said he believes Oura identified a challenge that faces us all, which is getting enough high-quality sleep.

“Our mission is to improve people’s lives through better sleep. We couldn’t have asked for a better partner than MSD Capital and Michael Dell. Their expertise will help Oura reach even more users around the world,” added Oura Health co-founder, president, and Chief Innovation Officer Petteri Lahtela.

The price range of the Oura Ring device ranges from $299 to $999 based on the material. The Silver Diamond version has the highest price at $999.