In a Medium post announcing a $28M Series B funding round, Oura CEO Harpreet Singh Rai revealed that the company has sold over 150,000 of its rings since launching in early 2018 and that their team has grown to over 100 people globally.
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What else did Oura’s CEO announce?
Oura also announced that they will be revamping their website and offering a new web-based portal for their sleep tracking gadget that will offer so-called “actionable insights”. The CEO also announced that the company will collaborate more with academic researchers to ensure that their data and guidance are as accurate as possible.
The company is planning to use the money raised in the Series B funding round to hire new employees and update their product lineup.
About the Oura Ring
There are other sleep tracking gadgets out there – we really like the Garmin Vivosmart – but this is the most popular and one of the first trackers to adopt a ring-shaped design. The Oura Ring has a lot of backing from high-profile tech executives include Twitter and Square CEO Jack Dorsey, who recently endorsed it and is a huge fan of the “sleep score” that the device gives you (he is at a 95). Oura isn’t the only company with celebrity fans, however. Comedian Joe Rogan recently announced that he uses the Whoop, a product that offers similar capabilities.
This funding round is another vote of confidence from the plugged-in tech elite who have been throwing money at this company and similar companies who make up the $70 billion sleep market.