Strava keeps growing.
What’s happening: The social-oriented activity tracking platform secured fresh funding led by Sequoia Capital, valuing the company at $2.2B, including debt.
It also announced a suite of new features and acquisition of cycling app The Breakaway.
Strava for more. Ubiquitous among endurance sport athletes, Strava counts 150M global users. Tracking ~50 activity types, it’s been broadening its appeal while sweetening its subscription with premium features.
Investing in AI, its latest suite features upgraded route planning and tools to catch scoreboard cheats. Buying into training, it acquired run training app Runna in April and cycling performance coaching app The Breakaway this month.
Winning new fans, it’s approaching $500M in ARR, with notable international member growth in Latin America and Asia.
Clubbin’. Finding strength in community, Strava club participation ballooned last year, with run clubs gaining 59%. A performance enhancer, those training in groups achieve better results.
Looking ahead: Fuel for further uploads, Strava will pursue a balance of AI features and peer support, while creating more access points for users to engage on and off the app.
