Strava operates under the assumption that a body in motion stays in motion. By connecting athletes with digital workout buddies, the smart fitness startup claims to increase your chance of hitting the gym — again and again. On Monday, the San Francisco company announced a big move of its own.
Strava raised an $110 million Series F round, which Andrew Vontz, vice president of communications, said it plans to invest in developing new features and expanding its user base.
“We’re now the largest sports community in the world with over 70 million members,” Vontz told Built In. “We’ve been growing rapidly, and we’re going to continue to grow very rapidly.”
Founded in 2009, Strava — Swedish for “strive” — offers a GPS tracking and user analytics dashboard that runners, bikers and hikers can use to track and compare their workouts across the world. By connecting athletes through the social media platform, Vontz said 94 percent of Strava subscribers who set a fitness goal through the platform remain active nine months later. As the COVID-19 pandemic continues to keep gyms closed, people apart and marathons virtual, Vontz said use of Strava has increased.
“Strava really is the Switzerland of connected fitness,” Vontz said. “Over 400 devices connect to Strava. Whether you have a Fitbit, an Apple Watch, a Garmin, all those experiences connect to Strava. It’s a place where people can share their activities.”
This year, the company has added two million users per month to its platform, double its monthly rate in 2019, Vontz said. The startup has also unveiled more than 60 new features so far this year, with more coming soon, Vontz said, although he declined to discuss the startup’s product roadmap.
The 180-person company currently has 20 open positions listed on its website, with available roles in software engineering, product management, marketing and more. The Series F round brings total investment in Strava to $180 million. TCV and Sequoia Capital led the round, with participation from Dragoneer Investment Group, Madrone Capital Partners, Jackson Square Ventures and Go4it Capital.
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