Finland‑based Oura filed confidentially for a New York IPO, filing paperwork with the SEC but withholding share count or price range. The wearable health‑tech firm, valued at roughly $11bn in October, sells rings that monitor sleep, activity and other biometrics. Investors will watch how the listing shapes the fast‑growing wearables market.

Revenue surged, doubling from 2023 to 2024, and the company projects another doubling in 2025, aiming for $1bn in sales that year. Early backers such as Lifeline Ventures and Proxy Ventures, alongside later investors Iconiq Capital and Fidelity, underscore strong capital backing. The growth trajectory reflects mounting consumer demand for data‑driven health devices.

CEO Tom Hale argues Oura’s heavy R&D spend and deep data sets create a competitive moat, letting the firm outpace rivals on new features and design. By converting biometric data into actionable insights, Oura positions itself as a premium analytics platform rather than a simple tracker. The IPO will test whether the market values this data advantage at the projected scale.