The company, last valued at $2.2 billion in a funding round completed in May, has reportedly invited Goldman Sachs, JPMorgan, and Morgan Stanley to pitch for advisory roles on the listing. That round was led by Sequoia Capital, Square Ventures, TCV, and Go4it Capital Partners, data provider PitchBook said.
Founded in 2009 by Harvard University crew teammates Michael Horvath and Mark Gainey, Strava has built a global platform that merges social networking with fitness tracking. The company says it has more than 150 million registered athletes across 185 countries. Its app, which surged in popularity during the pandemic, enables users to log and share workouts, compare performances, and engage with fellow fitness enthusiasts through “kudos” and leaderboards.
Strava has not yet finalized the amount it hopes to raise or the valuation it will target for the IPO. Sources said the offering could take place as early as 2026, depending on market conditions. The company did not immediately respond to requests for comment, while the banks mentioned declined to comment.
The appointment of a chief financial officer last month further signaled Strava’s IPO ambitions, as companies typically strengthen financial leadership ahead of public offerings.
A potential Strava listing would come at a time of renewed momentum in the U.S. IPO market. Last week, six new deals raised over $4 billion — the busiest stretch for new offerings since 2021 — suggesting improved investor appetite for fresh listings.
If successful, Strava’s move to the public markets could not only boost its financial firepower but also cement its position as one of the most recognizable digital fitness platforms worldwide.