Founders: Petteri Lahtela, Kari Kivelä, Markku Koskela
CEO: Tom Hale
Launched: 2013
Headquarters: Oulu, Finland
Funding: $351.5 million
Valuation: $2.5 billion
Key technologies: N/A
Industry: Consumer technology, health care
Previous appearances on Disruptor 50 List: 1 (No. 43 in 2022)
The growing consumer focus on health and wellness stemming from the Covid-19 pandemic has given a boost to the wearable device market, and a shift from simple step counters and fitness trackers to full-circle health monitors that can provide deep insights and analysis.
It also helped further fuel investment of tech companies including Apple and Amazon into the multi-billion-dollar sector, resulting in several devices competing for space on people's wrists, fingers and other body parts.
That fractious market has pushed some companies out – Amazon discontinued its Halo wearable in April, citing a crowded segment, among other reasons. Other early leaders in the space have long since been acquired, such as Fitbit, whose technology was recently integrated by Alphabet into a Google Pixel Watch.
But ŌURA has found success further honing its product for this new type of consumer that is focused on their health.
The Finnish company produces its eponymous smart ring product, which is equipped with research-grade sensors to track everything from heart rate to temperature to sleep cycles. That data is then analyzed to provide insights regarding activities and exercise, stress levels and overall health status.
ŌURA released its latest ring in September that features a new design and has looked to further expand its functionality as a health monitor. One area of particular focus is women's reproductive health, and in August ŌURA started to work with Natural Cycles, the only FDA-cleared birth control app, to help track wearer's fertility status while they slept.
It has also looked to get its rings onto more hands. Last year, ŌURA partnered with Gucci for a $950 luxury version of its ring, and recently announced a deal with Best Buy to be its first U.S.-based large-scale retail partnership, putting its rings in more than 850 stores across the country. It also launched an employer-focused wellness arm in February, aiming to work with companies, schools, sports organizations and the military around health goals for their employees.
It sold its millionth ring in March 2022.
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