There is a stark contrast between Oura’s deck and the others we analyzed on Extra Crunch Live. The slides CEO Harpreet Rai brought to the event were a clear result of a more mature and confident company looking for its B Series. It’s a company with focus, aware of where it is. wants the product to go and do (and she went there, announcing a massive follow-up round on Tuesday).
Then there’s this giant image of the Duke and Duchess of Sussex, with the company’s smart ring adorning Harry’s right hand. From there it’s a parade of celebrity faces: Will Smith, Lance Armstrong, Bill Gates, Arianna Huffington and Seth Rogen, to name a few.
It has clearly been half a dozen years since the inception of the company. Rai joined in 2018, shortly before the company embarked on its $ 28 million Series B, Eurie Kim, general partner of Forerunner, joined the round.
“[I] enthusiastically took the meeting and Harpreet shared his story and Oura’s story. The card game is what we talked about, ”Kim says. “Because I was a consumer, it was obvious I knew what he was trying to build. So we were very excited to lead the round.
Kim and Rai joined us on Extra Crunch Live to discuss the process of taking Oura to the next level – and beyond – as the product found a second (or third) life during the pandemic through partnerships with sports leagues like the NBA. And as we’re used to doing, we got the pair to take a look and a handful of user-submitted pitch decks. If you would like your deck to be reviewed by experienced founders and investors in a future episode, you can submit it here.
On the hardness of the material
By the time Oura looked for her Series B, the startup had already made enough progress. Kim compares the first-generation product (circa 2016 – predating both Rai and Kim at the company) to a “Power Rangers ring”. You have to start somewhere, of course – and at the very least, the original, admittedly bulky, edition of the product served as a powerful proof of concept.