Oura, the smart ring maker, with offices in San Francisco and Finland, is reportedly planning to raise up to $3 billion as soon as next month in a U.S. IPO that values the more than 900-person company at north of $16 billion, according to Bloomberg. The outlet adds that investors are expected to sell a major chunk of stock in the offering.
A $16 billion valuation would mark an enormous jump from the $10.9 billion valuation Oura was assigned last September, when it closed an $875 million Series E round backed by Fidelity, ICONIQ, Whale Rock, and Atreides, joining earlier backers like Dexcom, The Chernin Group, Forerunner Ventures, Coatue, and Temasek.
