Strava, the popular fitness tracking platform, is preparing to hire investment banks for its upcoming US initial public offering (IPO), according to a Reuters report.
The San Francisco-based company, valued at $2.2 billion after a funding round completed in May, has reportedly invited major banks including Goldman Sachs, JPMorgan, and Morgan Stanley to pitch for roles.
The IPO could launch as early as the beginning of 2026, depending on market conditions, per the report.
Strava has not yet outlined fundraising targets or valuation goals for the offering.
In August 2025, Strava appointed Matt Anderson as chief financial officer.
Anderson previously helped guide Nextdoor and Square (now Block) through their IPOs, and his hiring is seen as part of the company’s preparation for the compliance and reporting requirements of going public.
Founded in 2009 by Michael Horvath and Mark Gainey, who first met as teammates on the Harvard University rowing crew in the 1980s, Strava has grown from a cycling-focused app into a global fitness community.
Initially focused on cyclists, the platform expanded to serve runners, swimmers, and other athletes, and has since grown into a global community with more than 100 million users in over 195 countries.
Strava maintains offices in San Francisco, Denver, Bristol, and Dublin.