Smart ring company Oura announced it received $75 million in funding from glucose monitoring and diagnostics company Dexcom.
The strategic investment brings Oura’s valuation to more than $5 billion and allows the companies to begin integrating data between Dexcom’s continuous glucose monitoring products and Oura’s smart ring and application.
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Oura said it would use the funding to continue international expansion and fund future potential mergers and acquisitions. The deal brings the company's metabolic care intentions further into focus following its September acquisition of Veri, a digital metabolic care company.
An Oura spokesperson said the funding is attached to a Series D funding round but declined to share whether the round had closed.
According to a news release, the companies will begin allowing users to share data next year. Dexcom and Oura will also co-market and cross-sell each other’s products. The spokesperson declined to provide financial terms of the partnership.
"Ninety-seven percent of Oura Members have expressed interest in understanding how the food they eat impacts their health,” Oura CEO Tom Hale said in the release.
According to Hale, the partnership combines Dexcom’s glucose data with the biometrics collected by Oura Ring, offering users a more holistic view of their health. Oura currently tracks metrics incuding sleep, fitness, stress and heart health.
