Strava, the online network connecting the global community of athletes, has partnered with Sequoia and secured $18.5 million in financing. Existing investors Sigma West and Madrone Capital Partners also participated in the round. This funding will allow Strava to fuel the expansion of its service around the world and strengthen its leadership in digital sports.
“Strava is building tomorrow’s sporting network in the manner that Facebook and LinkedIn have developed today’s social and professional networks,” said Michael Moritz, Chairman of Sequoia Capital. “Even for the hapless and occasional athletes at Sequoia, Strava has become the essential and amusing way to post and compare our woeful performances and share them with friends and family.”
Used by professional and amateur athletes alike, Strava expanded its business in 2014 to connect athletes in 11 languages across 23 different sports. Hundreds of millions of activities have been shared on Strava from all seven continents, allowing for new data-driven services like Strava Metro. Today, approximately three million activities are tracked and shared by the Strava community each week.
“Since day one we have focused on building a network that serves to motivate and entertain the world’s athletes,” said Mark Gainey, co-founder and CEO at Strava. “With Sequoia joining our team, we are better positioned to execute our mission and strengthen Strava’s leadership in digital sports.”
Strava, which is based in San Francisco was founded in 2009.