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Benchstrength Closes $62M Early-Stage Venture Capital Fund

Benchstrength Closes $62M Early-Stage Venture Capital Fund

January 8, 2025 Craig Etkin

Led by former General Catalyst investors, the firm is focused on investing in technology companies that transform business and uplift communities Benchstrength looks to invest in and support world-class founders December 18, 2024 08:41 AM…

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ŌURA, the company behind Oura Ring, the world’s leading smart ring, today announced the completion of a $200 million Series D funding round. Fidelity Management & Research Company and Dexcom, the global leader in glucose biosensing, participated in the round. The investment raises the company’s valuation to $5.2 billion. This financing reflects ŌURA’s momentum in building and leading the smart ring category and the shared belief among its partners and investors that there are substantial growth opportunities ahead. This new capital will enable ŌURA to expand its product offerings, fuel further investment in product, science, and healthcare innovation, including AI, advance global expansion efforts, and explore additional acquisitions to accelerate growth.

In a statement Tom Hale, ŌURA chief executive officer said, “As we continue to drive momentum and growth, we are bolstered by the additional support of these investors.” “We’ve made significant progress in advancing our mission to make health a daily practice and will use this funding to unlock new opportunities, with AI development at the center of our strategy. We know that ŌURA has the potential to change lives at scale, and we’re excited to continue leading the market in innovation while pursuing opportunities that extend beyond the ring.”

This funding milestone follows a period of marked growth for ŌURA. The company recently surpassed 2.5 million rings sold and has seen its member base and revenue more than double over the past year. ŌURA delivers personalized health data, insights, and daily guidance with Oura Ring, the leading smart ring that helps you live healthier, longer. Guided by a mission of changing the healthcare paradigm from sick care to preventative health, ŌURA makes wellness and recovery a daily practice through sleep, activity, readiness, stress, resilience, women’s health, and heart health. Millions of Oura Members around the world use Oura Ring as a personalized health companion that meets them where they are.

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Park Place Dealerships, a part of Asbury Automotive Group has successfully completed the purchase of 15 acres of land in Dallas Texas from Raytheon on December 4th 2024. Known for its best-in-class client service, Park Place is expected to develop a state-of-the-art Porsche dealership on the newly purchased property, providing its clients with the luxury experience synonymous with Park Place and Porsche. Demolition is expected to begin early 2025, with construction scheduled to conclude Q2 2027. In addition to the state-of-the-art Porsche dealership, this land purchase paves the way for Park Place to build a state-of-the-art Volvo service center beside the current Park Place Volvo dealership at the corner of Lemmon Avenue and Inwood Road. This update is expected to bring cutting-edge technology and a seamless experience to Volvo clients, offering a combined showroom and service experience conveniently on one property.

In a statement Tony Carimi Area Vice President of Park Place Dealerships said, “Dallas has a deep appreciation for luxury vehicles, and at Park Place, we are dedicated to delivering an exceptional luxury experience to our clients." "For 37 years, Park Place has earned its reputation for offering a truly one-of-a-kind client experience, attracting customers from across the nation. This prime location, just steps from our current dealerships and minutes from Love Field, ensures Porsche and Volvo enthusiasts will have access to the very best these brands have to offer.”

Park Place Dealerships was founded in 1987 and has been engaged in the community through its support of the arts, medical research, children’s advocacy, and education. Park Place employs more than 1,400 members and operates nine full-service dealerships representing luxury brands including Lexus, Mercedes-Benz, Porsche, Volvo, Acura, and Land Rover. Park Place BodyWerks Collision Centers in Dallas, Fort Worth, and Plano, and the Park Place Auto Auction, round out the company’s offerings. Park Place was acquired in 2020 by Asbury Automotive Group, Inc., a Fortune 500 company headquartered in Duluth, GA.

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