Oura Hits $5B+ Valuation, Partners with Dexcom
The Stelo CGM maker has invested $75 million in the smart ring company
Wearable health tech is reaching new heights.
Medical device leader Dexcom has made a $75 million strategic investment in wearable ring maker Oura, pushing the wearable ring maker’s valuation to over $5 billion.
The two companies have also partnered to integrate Dexcom’s glucose data with vital signs, sleep, stress, heart health, and activity metrics from the Oura Ring, providing wearers with a more comprehensive view of their health. The sides say the data will flow between both Oura and Dexcom and their associated apps, with the first integration slated to launch in the first half of 2025.
“Dexcom offers the most accurate glucose biosensing systems on the market that help reveal the impact of daily lifestyle choices on glucose levels and enable our users to make informed decisions about their health and overall well-being,” Dexcom executive vice president of strategy and corporate development Matt Dolan said. “Partnering with Oura gives us the opportunity to redefine the category again, integrating data from Dexcom glucose biosensors with the continuous insights and metrics measured by Oura Ring. This powerful combination will attract new shared customers who want to better understand the link between activity, sleep, nutrition, and their glucose.”
As Oura CEO Tom Hale points out, the majority of Oura members (97%) have expressed interest in understanding how food choices impact their health.
“This partnership with Dexcom will enable us to empower our members to make informed decisions and adjust behaviors to positively impact their biometrics and long-term health,” Hale says. “Working together, Oura and Dexcom will help members decide what and when to eat by surfacing correlations between activities like sleep and exercise and members’ glucose levels. And because we know that people are affected differently by the same foods and activities, guidance and insights will be personalized.”
The partnership also sees both Dexcom and Oura cross-promoting each other’s products. This year, the Food and Drug Administration cleared Dexcom to launch the Stelo Glucose Biosensor System, the first over-the-counter CGM.
Earlier this fall, Oura acquired Veri, a Finnish personalized health company, to accelerate its advancements in the health data and CGM space. The company also onboard former Apple executives Miklu Silvanto as its new chief design officer and Jason Oberfest as its VP of healthcare.
