A wearable health device has entered a new phase, with companies that include Oura and Whoop breaking away from the fitness tracker crowd and designing a new category that is centered on managing your long-term health. News about the popularity of sleep recovery stress, longevity and heart health has contributed to the high valuations of both companies, both in the billions.
The Finnish company, which was founded in 2013, launched the o. ring in 2015 and the company has since claimed that it is the world’s most highly validated consumer wearable. The o. ring tracks continuous signals – such as temperature HR HRV, activity and sleep – to give insights into sleep/wellness scores and readiness scores. The Oura Ring 5 builds on that and offers a wide amount of holistic health metrics.
Uor has posted notable financial growth. For the nine months ending June 30, 2026 Oura generated a revenue of $1.21 billion, a 74% increase in same period of the previous year. Net income stood at $60.8 million versus $1.6million in the same period last year. Oura had about five million paid members.
The company’s final private round of funding in which Oura was valued at approximately $11 billion. Oura recently filed to go public on the Nasdaq Exchange in September and provided investors a peek into its fast-growing business. Speculation is Oura’s valuation in the public market could reach $16 billion or more, although its final valuation depends on the number of shares sold in the IPO and the operating environment when the deal closes.
Whoop took a similar journey, although it has a more athletic background. The wearables company found early success with athletes and serious competitors with a focus on recovery, strain, and sleep. It has been broadening its reach within general health and expanded to encompass women’s health, hormone-focused insights, and lots of other services.
In March, Whoop secured the funds they needed to grow further, as they announced a new $10.1 billion valuation after a Series G funding round of $575 million. Investors in the funding round, which also welcomed famous athletes like Ror y McIlroy, argued the new valuation was over triple their already steady valuation of $3.6 billion.
The evolution of the business models of each company mirrors the broader transition occurring in consumer health tech. While early health wearables only could measure steps, workouts and heart rate, newer products are seeking to interpret ongoing data into customized recommendations around recovery, sleep quality, stress and overall health trajectories.
Long term health has become a part of this conversation. Consumers are now interested in aging in good health and physical functionality, which drives a desire for products to inform daily lifestyle choices. Wearables are well suited for this market as they are capable of constantly monitoring, not just taking point samples.
That ambition is laid out plainly in Oura’s public filing. The company notes that it views its addressable market growing from just fitness tracking into the realm of preventative medicine, using clinical trial data, healthplan partnerships, and health systems and providers. As of June 2026, Oura said its platform had collected close to 42 billion hours of longitudinal biometric data.
