Strava, the running and exercise app, has earned a $2.2 billion valuation after raising an undisclosed amount of new funding, including debt, according to The Wall Street Journal.
The funding follows the acquisitions earlier this year of AI-driven training apps Runna and The Breakaway, as well as the continued growth of the platform, which now has over 150 million reported global users.
Strava’s previous fundraising took place in 2020 when the company’s valuation was $1.5 billion.
Sequoia Capital led the latest funding round, joined by existing investors, including TCV, Jackson Square Ventures and Go4it Capital.
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.”
Image courtesy of Strava
