Fitness tracking app Strava confidentially filed for an initial public offering (IPO) in recent weeks, sources told The Information. The San Francisco, CA-based company’s offering could come as soon as this spring, the report said.
Sources also indicated Goldman Sachs has been retained to manage the underwriting process.
Last October, Reuters reported that Strava was seeking proposals from investment banks to support an IPO, which could occur as early as early 2026.
In May 2025, Strava earned a $2.2 billion valuation after raising an undisclosed amount of new funding, including debt, according to the Wall Street Journal. Sequoia Capital led the funding round, joined by existing investors, including TCV, Jackson Square Ventures and Go4it Capital. Strava’s previous fundraising took place in 2020 when the company’s valuation was $1.5 billion.
Mike Martin, Strava’s CEO, told the Wall Street Journal that the company saw “over 50 percent growth in new users last year and is set to reach $500 million in annual revenue in the near future.”
The funding follows the acquisitions earlier this year of AI-driven training apps Runna and The Breakaway, as well as the platform’s continued growth, which now has over a reported 180 million global users.
Image courtesy Asheville Women’s Running Club
