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Oura Health Strengthens Its Position in the US Market

Nachrichtenagentur: news aktuell
12.07.2018, 10:14  |  225   |   |   
Oulu, Finland (ots/PRNewswire) -

Company moves to 12.5MEUR in total private funding and appoints
new board members with US industry expertise for latest growth phase

Oura Health (https://ouraring.com/), the Finnish health technology
company behind the Oura ring, has moved its total private funding to
12.5MEUR after the closure of a round led by US-based Bold Capital
Partners (http://www.boldcapitalpartners.com/) and Finland's Tesi
(http://www.teollisuussijoitus.fi/). The funding will be used to
scale US market operations and push the Oura platform forward.

To view the Multimedia News Release, please click: https://www.mul
tivu.com/players/uk/8362451-oura-health-strengthens-position-us-marke
t/

The Oura ring and app guides wearers towards better sleep,
recovery and readiness to perform by analyzing the body's sleep,
activity levels, daily rhythms and physiological responses.

Former Oura Health CEO Petteri Lahtela will focus on developing
new products and services in his new roles as Oura Health President
and Chief Innovation Officer while continuing his position on the
Oura Health board. Former Ouraring Inc. President Harpreet Rai has
been appointed as the new Oura Health CEO, with US industry
specialists Stephen Friend and Kevin Lin also joining the Oura Health
board.

"The successful launch of the new Oura ring shows the level of
innovation and craftsmanship that Oura Health is capable of. Moving
forward, our main goal is to drive awareness and sales in our largest
market, while doubling down on the very innovation that brought us
here in the first place," says Harpreet Rai, CEO of Oura Heath.

"I have great respect for Harpreet. He knows the US market and can
lead us towards growth and greater market penetration. I'm excited
for this next phase for Oura, and am looking forward to focusing on
new innovative products and services which I am most passionate
about," says Oura Health CIO Petteri Lahtela.

Oura Health CEO Harpreet Rai previously led investments in
technology, media and telecom at New York-based Hedge Fund Eminence
Capital (http://www.eminencecapital.com). He is joined on Oura's
board by Twitch (https://www.twitch.tv/) Co-founder and former COO
Kevin Lin, and M.D., Ph.D. Stephen H. Friend, Chairman of the Board
and Past-President of Sage Bionetworks (http://sagebionetworks.org/),
a non-profit organization that provides the tools and environment to
conduct dynamic, large-scale collaborative biomedical research.
Approximately 60% of active Oura users and pre-orders for the new
Oura ring originate from the US.

"Oura has built an extremely capable team that combines and
harnesses technological, commercial and design expertise. There has
been strong demand for the new ring. Meanwhile, both operative and
governance changes within the company will boost Oura's growth and
development. Finland is home to a number of international brands
famous for products and services based on biometric measuring. Oura
has all the resources needed to join this elite band," says Jussi
Sainiemi, Investment Director at Tesi.

"We have succeeded in creating a new category within wearables. We
combined science, technology and design with ultimate wearing
comfort. Bringing sleep and recovery from daily mental and physical
strain into the core of the user experience with the first generation
Oura ring was the right choice. Our users are very committed and our
retention rates are much higher compared to wearables in general. We
need to continue innovating in all areas to maintain our pioneering
position," concludes Lahtela.

Mr. Kevin Lin, the co-founder and former COO of Twitch, has been
appointed chairman of the board. He brings along his vast experience
in scaling teams, building communities, growing sales and developing
monetization strategies based on his experience at Twitch. He also
notably raised multiple rounds of funding and delivered significant
shareholder value with Twitch's exit to Amazon.

M.D., Ph.D. Stephen H. Friend is the Chairman of the Board and
Past-President of Sage Bionetworks, a non-profit organization that
provides the tools and environment to conduct dynamic, large-scale
collaborative biomedical research. Dr. Friend was most recently at
Apple Inc. where he worked on ways to impact people's lives in health
and disease. Currently he's designing a virtual institute to explore
fundamental issues around how to make individual symptom predictions
and how to return agency to individuals so they might navigate their
own paths between health and disease.

Harpreet Rai is based in San Francisco and has a long background
in finance. He was previously at Eminence Capital for 9 years, a
multi-billion dollar hedge fund in New York City, where he led
investments in technology, media and telecom. Prior to Eminence,
Harpreet was at Morgan Stanley in their M&A group. Harpreet Rai
joined Ouraring Inc., Oura Health's US subsidiary, as President in
2017 and succeeds Petteri Lahtela as the new CEO, effective June 1st,
2018.

About Oura Health Ltd.

Oura Health Ltd. is a Finnish health technology company founded in
2013. Oura is the world's first wellness ring and app that shows how
your body responds to your lifestyle by analyzing your sleep,
activity levels, daily rhythms and the physiological responses in
your body. Personalized for you, Oura guides you towards better
sleep, recovery and readiness to perform. Oura has users in over 60
countries, and several top universities, research organizations,
sleep clinics, and companies are utilizing the data and insights Oura
provides.

In addition to the CES 2016 Best of Innovation Award, Oura Health
has received among others the Fitness Award of the American Women's
Health Magazine in May 2016. In 2017, Oura Health was selected as the
Best Health/Lifestyle Startup in Finland at the Nordic Startup
Awards. Oura Health Ltd.'s HQ and major manufacturing facilities are
located in Oulu, Finland. Other locations include Helsinki and San
Francisco. For more information, visit http://www.ouraring.com.

About BOLD Capital Partners

BOLD Capital Partners ("BOLD"), is a venture capital firm
targeting investments in early stage and growth technology companies.
BOLD is particularly interested in entrepreneurial leaders that
leverage exponential technologies to transform the world and create
innovative solutions to humanities' grand challenges. The investment
platform leverages the resources of Singularity University and the
Peter Diamandis ecosystem to actively seek and support world-class
entrepreneurs. BOLD has offices in Santa Monica and Palo Alto,
California.

About Tesi

Tesi (Finnish Industry Investment Ltd) is a venture capital and
private equity company that accelerates companies' success stories by
investing in them directly and via funds. Tesi always invests
together with other investors, providing them with access to high
quality deal-flow in Finland. Our investments under management total
EUR1.2 billion and we have altogether 700 companies in portfolio.
http://www.tesi.fi and @TesiFII

For additional information



Media kit with pictures (http://meltwater.pressify.io/publications/59ddc06f17da7a0e00af5cfe?oura-ring-pressroom)

John Cozzi

press@ouraring.com

Video:
https://mma.prnewswire.com/media/717286/Oura_Health_Sleep.mp4

(Photo: https://mma.prnewswire.com/media/715850/Oura_Health.jpg )

Video:

https://www.multivu.com/players/uk/8362451-oura-health-strengthens
-position-us-market/

ots Originaltext: Oura Health Ltd.
Im Internet recherchierbar: http://www.presseportal.de



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