Strava: $3.5m for Cycling Community and Tools

Strava: $3.5m for Cycling Community and Tools
Strava, Inc., developer of web and mobile apps for avid athletes, has secured $3.5 million in a Series A investment from a group of investors led by Sigma Partners.

Strava will put funding towards building its team, adding products and services for athletes in sports beyond its current offerings for avid cyclists, and broadening and deepening its community. Strava business model is based on subscriptions to its sport monitoring tools.

"With our Series A raise and fantastic group of investors, we'll be able to expand our team and continue to create solutions that let some of the best and most enthusiastic athletes in the world experience social fitness– sharing, comparing and competing with each other's precise, personal fitness data on-line and via mobile apps,” said Michael Horvath, co-founder and CEO of Strava.

"The social fitness space is rapidly evolving and we believe Strava's precision of focus, understanding of its key audiences, and the depth of its technical solution will drive its success," added Greg Gretsch, Partner at Sigma Partners.

Monday, January 17th 2011

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