Fitness application Strava achieved a valuation value $ 2.2 billion after collecting an undisclosed amount of recent financing, including debt, The Wall Street Journal Reported. The recent offer is a good impulse for the company that recently raised funds in 2020 with a valuation of $ 1.5 billion.
Capital sequoia He led to the round and were joined by existing investors, including TCVIN Jackson Square Ventures AND Go4it capital.
Along with the financing of Strava, he said that he had purchased a training application for cyclists Breakaw for an undisclosed amount. According to Truckee startup in California, he raised $ 2.9 million Crunchbase. This takeover takes place after the purchase of Strava last month of the London application for conducting training Series for an undisclosed amount.
Like many fitness applications, Strava based in San Francisco has noted an increase in popularity during a pandemic. The application is used by people to track running, cycling, wandering, swimming and dozens of other fitness classes. Users may also track their efficiency progress in the application and provide classes and photos with friends in a channel similar to social media. In recent years, Strava has added fitness observations powered by artificial intelligence for users.
CEO Mike Martin He told the journal that Strava was continually growing, leading to financing and recent acquisitions. He said that the company is on the right track, which is able to soon reach $ 500 million of annual revenues. In 2024 he noticed over 50% growth of users, and currently has over 150 million registered users around the world.
The recent round of Strava appears when funds for startups related to fitness have fallen since the ups of the pandemic time. Startups in the category collected $ 1.26 billion in 2024, the lowest amount in the last five years, shows the data of Crunchbase and a fraction of $ 6.27 billion of such firms collected in 2021.