Strava says it has more than 70 million members in 195 countries worldwide. With the funds raised, the company plans to develop additional features, support its global community and expand to enable more athletes to take advantage of its services.

“We’re excited to partner with TCV and Sequoia. Together we’re building for athletes,” said Strava co-founder and CEO, Michael Horvath. “Today that means making Strava indispensable to athletes everywhere. When we do that well, we connect athletes to what motivates them, fuel the growth of our community, and strengthen our business. The experiences of Michael Moritz at Sequoia and Neil Tolaney at TCV with companies at Strava’s stage and beyond will be invaluable as we strive to enable athletes worldwide to get the most out of their active lives.“

In 2020, Strava achieved rapid growth. Each month its community grew by over two million athletes per month. In addition, the company introduced over 60 new features for athletes to underline the efforts made for its subscribers. In addition, the Strava Metro tool became free of charge for city planners and municipalities. Strava Metro's aggregated data helps over 300 municipalities and city planners to create safer cities for pedestrians and cyclists.

“Strava has spent a decade accumulating the mojo required to help people become healthier and fitter,” commented Michael Moritz, Partner at Sequoia. In his opinion, “in the future, being on Strava will be essential for anyone aspiring to live a healthy life.”

Strava offers access to its community of athletes to anyone, anywhere. Maintaining motivation is a well-known issue in health and fitness, but Strava strives to use human connections to keep people on the move. In doing so, Strava relies on generating motivation through competition, camaraderie, and accountability. The company considers this to be confirmed by the fact that 94 per cent of Strava subscribers who set a goal are still active nine months later.

“TCV has been bullish on and an active investor in the connected fitness and health ecosystems over an extended duration. As the largest and most engaged community of athletes in the world, Strava is uniquely positioned and boasts a strong value proposition for athletes and partners alike,” explains Neil Tolaney, General Partner at TCV. “Strava’s community and unique product offerings motivate athletes to lead healthier, more active lifestyles. In addition, Strava’s outsized growth in community membership, activities and subscribers demonstrates its importance for athletes to best fulfill their objectives.”

Source: Strava
Picture: Strava