Strava, the fitness tracking app that has become a lockdown staple for millions of runners and cyclists, has confirmed a new valuation of $2.2 billion following its recent acquisition of Runna, a UK-based running coaching platform.
The deal, announced in April and completed on Thursday, marks a major step in Strava’s push to deepen its presence in both the running space and the UK tech ecosystem.
This is the first time Strava has disclosed its valuation since 2020, when it raised funding at a $1.5 billion valuation during a pandemic-era boom in fitness apps. Unlike many lockdown success stories that have struggled to maintain momentum, Strava’s growth has endured, fuelled by a continuing global passion for running. Last year alone, users recorded over 1 billion runs on the platform.
The acquisition of Runna, which employs around 150 staff in London, will form the basis for Strava’s first tech development office in the UK, according to CEO Michael Martin. The office will house teams in product, engineering, design and business functions, signalling a deeper commitment to the UK market.
“We didn’t have a tech development office in London,” Martin said. “With Runna, I see that as the beginning.”
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