Runna, a London-based coaching app for runners, has been acquired by the US health startup, Strava in a transfer described as a “dream come true” for its two founders.
Regardless of solely launching 4 years in the past, intelligent advertising methods together with model partnerships with actuality TV stars, health manufacturers, and Olympians had seen the startup shoot forward within the aggressive health market. In January, it positioned fifth within the Startups 100 Index.
Co-founder and CEO, Dom Maskell shared the information on LinkedIn this morning. “Strava has all the time been the pure house for Runna from the primary day we began engaged on it,” he wrote. “That is truthfully a dream come true for me and the Runna crew.”
Strava has bought the startup for an undisclosed sum. Nonetheless, The Occasions at present reported that the deal will safe its founders a multimillion-pound payday.
What’s Runna?
Runna is a private working coach app designed for all health ranges, providing tailor-made coaching plans, harm administration recommendation, and mobility exercises.
Launched in 2021 by Maskell and Ben Parker, it started life as a personalised PDF service for health followers. Within the 4 years since, it has grown a devoted consumer base within the lots of of hundreds and a web-based neighborhood of enthusiastic “Runnas”.
Its savvy, brand-building efforts have recalled the early days of Uber. Runna companions embrace Olympic triathlete Alex Yee; the New York Marathon; parkrun UK; and sportswear model LuluLemon. Its spectacular progress appears to have shocked even its founders.
“We didn’t assume that in lower than 4 years we’d have the ability to launch the app, elevate funding, develop the crew to >120 individuals throughout London and Boston, get rated a prime rated working teaching app on the earth and attain hundreds of thousands of Runnas”, added Maskell on LinkedIn.
In 2023, the app secured £5m in funding in a enterprise capital spherical that was led by JamJar Investments. That quantity brings the whole funds raised since 2021 to over £8m. Dealroom estimates the worth of Runna at round $40m.
Recreation on for health apps
In a letter to Runna customers, Maskell and Parker confirmed that Runna and Strava will stay separate apps, with the choice to sync knowledge between each platforms.
“As eager customers of [Strava], we’re excited,” they wrote. “We got down to construct Runna to enhance individuals’s lives by working and this deal permits us to do this much more.”
Based on Maskell, the crew will use the funding from Strava to develop the Runna crew extra, enhance the app, and combine with Strava “the place it is sensible to”.
The acquisition is the most recent in a string of strategic strikes by Strava, which launched in 2009. In 2023, the corporate additionally acquired Fatmap, a London-based 3D out of doors mapping platform.
In the present day, over 100 apps hook up with Strava’s API, and the platform has cemented its place on the coronary heart of the health startup ecosystem.
Commenting on the Runna information, Strava CEO, Michael Martin mentioned: “Coming off Strava’s accelerated innovation and unprecedented progress final 12 months, it was the correct time to search for complementary companies that would create even better worth for our customers”.
The deal can also be a wise step for Runna’s co-founders. In its Startups 100 software, the corporate mentioned it was chasing a £1bn valuation and an viewers within the hundreds of thousands.
Now a part of Strava – a platform with greater than 150 million customers and unicorn standing since 2020 – Runna is pacing confidently in the direction of that aim.
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