Strava, a San Francisco, CA-based social platform for athletes, raised $110m in a Series F financing.
The round was led by TCV and Sequoia Capital, with participation from Dragoneer Investment Group and existing investors including Madrone Capital Partners, Jackson Square Ventures and Go4it Capital.
The company intends to use the funds to build more features for athletes and expand its business reach.
Led by co-founder and CEO, Michael Horvath, Strava is a large sports community which enables motivation through competition, camaraderie and accountability. The company’s mobile apps and website connect millions of active people every day and give athletes fun ways to stay motivated and compete against themselves and others without having to be in the same place at the same time. It currently has more than 70 million members in 195 countries. In 2020, Strava has added more than 2 million athletes per month to its community and rolled out over 60 new features. The company also made Strava Metro free for urban planners and city governments. Strava Metro’s aggregate data helps over 300 city governments and urban planners create safer cities for pedestrians and cyclists.