Strava Acquires London Based Running App Runna in Strategic Growth Move

US-based fitness tracking platform Strava has acquired London-based running coaching application Runna for an undisclosed sum, marking its first UK acquisition. The deal is expected to deliver a substantial 30-fold return for early investors.

Founded by Ben Parker, 29, and Dom Maskell, 30, just over three years ago, Runna has grown to employ approximately 150 staff members. The company previously secured £8 million in funding, with notable backing from Jam Jar Investments, the venture capital fund established by Innocent Drinks’ founders.

Strava, valued at $1.5 billion in a 2020 Sequoia Capital-led funding round, boasts 150 million users across 185 countries. Michael Martin, who assumed the role of CEO in January 2024, emphasised that the acquisition would enhance Strava’s running-focused offerings, which represent the platform’s fastest-growing sport category.

The genesis of Runna traces back to 2021 when Parker, a running coach, began crafting personalised training plans for Maskell at £80 monthly. The venture quickly evolved from a side project into a flourishing business, securing initial funding of £100,000 from Joshua Patterson, followed by a successful crowdfunding round of £484,000.

Unlike many tech startups, Runna has maintained profitability since 2023, operating efficiently with its subscription model priced at £15.99 monthly or £99.99 annually. The company’s most recent financial records revealed cash reserves of £8.2 million as of January 2024.

The acquisition aligns with Strava’s growth trajectory, with the platform reporting revenues of $275 million in 2023 and experiencing its most successful year in 2024, achieving unprecedented user growth rates of 50 per cent year-on-year.