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.”
The deal is also backed by Strava’s long-term investor Sequoia Capital, which has topped up its investment as part of the transaction. The Silicon Valley venture firm has supported Strava since 2014 but declined to disclose the amount of its latest contribution.
“The UK is an amazing ecosystem,” said Andrew Reed, Sequoia partner and Strava board member. “It has great universities, amazing AI talent, and world-class entrepreneurs. Obviously, it’s also the centre of the global financial system.”
Strava’s investment in London arrives amid questions over the UK capital’s long-term appeal as a European tech hub. Earlier this week, UK fintech heavyweight Revolut revealed plans to open its European HQ in Paris, raising fresh concerns about London’s status post-Brexit.
According to Dealroom, while London startups raised more venture capital than those in Paris in 2024, the total enterprise value of Paris tech companies has grown more than five-fold since 2017, allowing the French capital to overtake London in terms of cumulative enterprise value for the first time.
In addition to Runna, Strava also confirmed it is acquiring The Breakaway, a US-based AI-powered cycling coaching app, which emerged from Y Combinator, the influential Silicon Valley accelerator. The terms of that deal were also undisclosed.
Both acquisitions reflect Strava’s ambition to go beyond activity tracking and offer more personalised coaching experiences — blending data, artificial intelligence and user insights to help athletes of all levels perform better.
As the company continues to scale, the focus on international expansion, strategic M&A, and deeper tech integration suggests Strava is intent on maintaining its momentum in the fitness-tech market — even as others in the space struggle to retain their pandemic-era audiences.
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Strava’s valuation jumps to $2.2bn following acquisition of UK running app Runna