–>
ŌURA, known for its smart health-tracking Oura Ring, has acquired Veri, a Finnish company focused on metabolic health through continuous glucose monitoring (CGM). Veri’s team, including its founders, will join ŌURA to enhance its expertise in metabolic health, a growing area of interest among Oura Ring users. The acquisition aims to expand ŌURA’s capabilities beyond sleep and activity tracking, integrating more comprehensive insights into how food affects overall health. This move reflects ŌURA’s broader goal of offering a more holistic approach to personal well-being.
ŌURA, a company based in Finland, developed the Oura Ring, a wearable device designed to monitor various health indicators like sleep patterns, heart rate, and body temperature. The ring provides users with data on their daily activity and overall health by tracking these metrics continuously. Initially centered around sleep tracking, ŌURA has gradually incorporated features that address broader health aspects, including cardiovascular health and stress. The company aims to offer users a clearer picture of their physical well-being through data collected from everyday use.
Veri is a company dedicated to improving metabolic health through the use of continuous glucose monitoring (CGM) technology. By integrating a wearable glucose sensor with a mobile app, Veri provides users with personalized data on how different foods and lifestyle choices affect their metabolic health. The company was established in response to personal experiences with metabolic health issues and aims to address the broader crisis by offering tools based on the latest scientific research. Veri operates with a focus on sustainability and transparency, emphasizing that health should be accessible to everyone and recognizing the uniqueness of individual metabolic responses. The team is primarily based in Helsinki and New York, reflecting a global approach to tackling metabolic health challenges.
“Metabolic health is the natural next dimension of the Oura Ring holistic health experience, and one that our customers have told us they want,” said Tom Hale, ŌURA CEO. “ŌURA started in sleep and has always had a vision of expanding to support all aspects of health. Over time, we’ve built out our offerings across key behaviors like activity and added new health pillars like cardiovascular health, stress & resilience, and women’s health. Metabolic health is an important next horizon and the team at Veri brings deep experience in that space. We look forward to integrating their expertise as we explore and develop new offerings that add value to our members’ lives as we build the best holistic health companion.”
Metabolic health is a key area of interest for Oura Members, with 97% of members expressing interest in understanding how the food they eat impacts their health. In a survey of Oura Members, 13% indicated that they have worn a CGM, and 53% are interested in wearing a CGM in the next 12 months.”
“When most people think about metabolic health, they think of weight loss and diabetes, but, like ŌURA, we’ve always had a vision centered around helping people understand their health more deeply,” said Anttoni Aniebonam, Veri CEO and co-founder. “By bringing our experience in metabolic health to ŌURA, a like-minded Finnish brand, we have the opportunity to influence meaningful change in even more people’s lives at a faster rate than we’d be able to on our own. Together, we’ll explore how metabolic awareness can create a more complete picture of your overall health and provide guidance to help Oura Members achieve their personal goals, whatever they may be.”
As a first step in integrating metabolic health into the ŌURA experience, this fall, ŌURA will introduce a new feature called Meals, which will help members track meal timing and map it to their chronotype to understand how and when we eat can impact health metrics like sleep, stress, and recovery. Meals will be available in Oura Labs, an opt-in innovation hub within the Oura App that allows members to test features in development and provide feedback.
“Today, Oura Ring is a standalone product, but we see a world where the product experience includes other health data inputs and sensors, such as CGMs, factoring into the data and insights presented within the Oura App,” said Hale. “The expertise of Veri’s team will help accelerate this vision, strengthening our product and opening up new avenues for metabolic health offerings.”
The acquisition of Veri follows a period of marked growth for ŌURA, recently surpassing 2.5 million rings sold and more than doubling its member base over the past year. This year, ŌURA expanded its retail presence globally with new retail partnerships, including Amazon, Target, Elkjop, and John Lewis, and grew its commercial business with expanded military partnerships, including institutions like the Naval Health Research Center (NHRC), the Air Force, and Defense Innovation Unit, and GOVX, to offer Oura Ring to a community of first responders, nurses, military professionals, and other eligible government workers.
Existing Veri customers will be supported until the end of 2024. The transaction is subject to customary closing conditions.
Click here to read more IPO/M&A news.
–>
Read the orginal article: https://arcticstartup.com/oura-acquires-veri/
