Oura is diving deeper into metabolic health through a strategic partnership with Dexcom.
On Tuesday, the brand, best known for its health tracking ring, revealed a $75 million series D investment from Dexcom, a continuous glucose monitoring company, bringing Oura’s total valuation to more than $5 billion. The brand has sold more than 2.5 million rings to date, tripled its member base in the last three years and is expected to reach $500 million in sales this year.
Oura and Dexcom are also partnering to allow “two-way data flow,” according to the companies, so users can track metabolic health with data from and across both the Oura and Dexcom apps. The first app integration is expected to roll out in the first half of 2025.
The partnership indicates Oura’s continued emphasis on metabolic health, as it is a top interest among its users.
“Ninety-seven percent of Oura members have expressed interest in understanding how the food they eat impacts their health,” said Oura chief executive officer Tom Hale in a statement. “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. 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.”
For Dexcom, this partnership will bring continuous glucose monitoring to a wider array of customers. Dexcom also recently launched Stelo, the first FDA-approved, over-the-counter glucose biosensor. Previously, prescriptions were required for continuous glucose monitors.
“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,” said Matt Dolan, executive vice president of strategy and corporate development at Dexcom, in a statement. “This powerful combination will attract new shared customers who want to better understand the link between activity, sleep, nutrition and their glucose.”
In the way of highlighting metabolic health, Oura also recently acquired Veri, a health tech company that provides insights via continuous glucose monitors, and launched Meals, a feature that allows users to track their food and its impact on overall health, in its opt-in testing platform Oura Labs. This news also comes on the heels of the acquisition of Sparta Health, a software company that uses health data to provide users with actionable advice; the launch of Oura’s newest and sleekest ring, and its updated, in-depth app experience.
