Health tracking wearable ring maker Oura acquired digital identification startup Proxy in an all-equity deal.
The transaction values Proxy at $165M, per Bloomberg. "We are thrilled to collaborate with the innovative Proxy team to expand our addressable market, paving the way for new opportunities in areas such as payments, access, security, identity, and beyond, fueling future growth," per CEO Tom Hale.
- The team and founders of Proxy will join Oura's team.
- Per Pitchbook, the startup was last valued at $292M in 2020.
- To date, the firm has raised $58.8M in funding from investors, including Kleiner Perkins and Blackbird Ventures.
- The acquisition will also enable Oura to bolster its health data privacy.
- Finnish startup Oura was last valued at $2.55B when it raised fresh funding a year ago.