Strava's value grows to US$2.2B
After a fresh round of funding, Strava's valuation has raised US$2.2 billion, including debt, according to a report in the Wall Street Journal. This follows the acquisitions of AI-driven training apps Runna and The Breakaway, and the continued growth of the platform to over 150 million users globally. Strava's previous fundraising took place in 2020, when the company was valued at US$1.5 billion.
Mike Martin, Strava's CEO, said the company is set to reach US$500 million in annual revenue in the near future.
Regarding the acquisitions, Strava confirmed to Escape Collective that The Breakaway’s cycling performance tools will be absorbed into the main app, while Runna will remain separate "for now." When asked about what’s next, James Foster, Strava's communications officer, said: "Our business is strong, and our future remains extremely bright."
