Fitness app Strava has recently been valued at a staggering $2.2 billion in its latest funding round, marking a significant jump from its previous $1.5 billion valuation in 2020, according to a report by The Wall Street Journal (May 22). While the exact amount raised has not been disclosed, this valuation highlights Strava’s expanding influence in the fitness technology space.
A Growing Community of 150 Million Users Worldwide
Strava’s app currently boasts approximately 150 million registered users globally, catering to both free and premium subscribers. The company is also approaching $500 million in annual recurring revenue, a testament to its successful monetization strategy and growing appeal to fitness enthusiasts across the globe.
Strategic Acquisitions to Enhance User Experience
Strava’s recent acquisition of the cycling training app The Breakaway underscores its focus on strengthening its core community. CEO Mike Martin emphasized that cyclists remain a vital part of Strava’s global user base and expressed excitement about enhancing their experience through this acquisition.
Earlier, in April, Strava acquired Runna, a running training app, signaling its commitment to diversifying and enriching its offerings for athletes of all disciplines.
Martin noted:
“Coming off Strava’s accelerated innovation and unprecedented growth last year, it was the right time to look for complementary businesses that could create even greater value for our users.”
New Features to Inspire and Connect Users
Alongside acquisitions, Strava has launched a new suite of subscriber features designed to help users:
- Discover popular routes for running, cycling, or walking
- Find points of interest such as cafes, restaurants, and scenic viewpoints
- Access enhanced comparison metrics to track progress and performance
These innovations reflect Strava’s mission to be more than just a tracking app — it’s evolving into a comprehensive fitness lifestyle platform.
Industry Recognition and Strategic Brand Partnerships
Strava’s impact was further validated when it ranked No. 1 in the PYMNTS Provider Rankings of Fitness Apps in 2024.
The app’s influence has also attracted notable partnerships, such as with fast-casual restaurant chain Chipotle. Together, they launched motivational text campaigns, exclusive creator content, and healthy meal promotions tailored to fitness-minded customers. Chipotle CEO Scott Boatwright praised the collaboration for aligning with health and wellness trends and providing customizable meal options to fit diverse lifestyles.
What’s next for Strava? With continued innovation, strategic acquisitions, and expanding partnerships, Strava is positioning itself as a leader in the intersection of technology, fitness, and lifestyle — transforming how millions stay motivated and connected worldwide.
