Strava valued at $2.2 billion after acquiring Runna app
Strava, the widely used fitness tracking app, has raised a new round of funding that values the company at $2.2 billion, including debt. The announcement, made by CEO Mike Martin, signals a new chapter of expansion for the company, which has also confirmed its second acquisition in as many months.
Riding the Wave of Post-Pandemic Health Trends
Strava experienced a surge in popularity during the COVID-19 pandemic, as millions of people turned to outdoor activities for physical and mental well-being. That momentum has continued as global interest in fitness—especially running and cycling—remains high.
The latest fundraising round was led by prominent Silicon Valley firm Sequoia Capital, with continued support from existing investors including TCV, Jackson Square Ventures, and Go4it Capital. Andrew Reed, a partner at Sequoia and a member of Strava’s board, confirmed the details. The company’s last major fundraising effort was in 2020, at which time it was valued at over $1.5 billion including debt.
Expanding Through Acquisitions
In addition to securing fresh capital, Strava has been strategically expanding its portfolio. The company has acquired The Breakaway, a training app aimed at cyclists, though financial terms were not disclosed. This comes just a month after its acquisition of Runna, a platform that offers personalized training plans for races ranging from 5Ks to marathons.
These acquisitions mark a clear push to diversify Strava’s offerings and enhance its value to a growing user base that spans amateur enthusiasts to elite athletes.
Growth Trajectory and Revenue Outlook
Strava’s growth has been rapid, with over 50% increase in new users last year alone. According to Martin, the company is on track to reach $500 million in annual recurring revenue—a major milestone for a platform that started as a niche service for endurance athletes.
The user base now exceeds 150 million registered users globally, who engage in more than 40 different sports on the app. Growth has been particularly notable in international markets like Brazil and Indonesia, pointing to a strong global footprint.
Free to Start, Premium to Grow
Founded in 2009, Strava operates on a freemium model—offering basic activity tracking for free while providing more in-depth analysis and features through a paid subscription. It refers to its users as “athletes,” and fosters a social and competitive environment where individuals can compare their performance to peers and even professional athletes.
As interest in running clubs and marathon participation surges—especially among younger demographics like Gen Z—Strava is positioning itself at the heart of a fitness-first cultural shift.
With strong backing from top-tier investors, a growing suite of training tools, and a surging global user base, Strava’s latest moves indicate it’s not just keeping pace—it’s sprinting ahead.
