Fitness tracking app Strava has boosted its valuation to $2.2 billion after securing new funding—including debt—according to The Wall Street Journal. While the exact amount raised was not disclosed, the valuation marks a significant increase from its last funding round in 2020, when the company was valued at $1.5 billion.
The new funding round was led by Sequoia Capital, with participation from existing investors TCV, Jackson Square Ventures, and Go4it Capital.
Acquisitions Fuel Expansion
As part of its growth strategy, Strava also announced the acquisition of The Breakaway, a California-based cycling training app, for an undisclosed amount. The Breakaway had previously raised $2.9 million, according to Crunchbase data. This follows Strava’s recent acquisition of Runna, a London-based running training app, further expanding its capabilities in personalized fitness coaching.
Growth Metrics
•150+ million registered users globally
•Over 50% growth in new users in 2024
•On track to reach $500 million in annual recurring revenue (ARR)
•Continued integration of AI-driven fitness insights to enhance user experience
Industry Context
Strava’s rise comes against the backdrop of declining investment in fitness-related startups. Venture funding in the sector dropped to $1.26 billion in 2024, the lowest in the past five years, and a sharp decline from $6.27 billion in 2021 during the pandemic-era fitness boom.
Despite the overall downturn in sector funding, Strava’s momentum highlights its leadership in the fitness tech market, driven by both organic user growth and strategic acquisitions.
