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On

eCommerce & Marketplaces · Zurich, Switzerland · Founded 2010 · IPO 2021

On is a Swiss-based company that designs and markets athletic footwear and apparel. The company was founded in 2010 by former professional athlete Olivier Bernhard and his friends David Allemann and Caspar Coppetti. On's signature product is its line of running shoes, which feature a patented cushioning technology called CloudTec. This technology is designed to provide a soft landing and a firm takeoff, which the company claims helps to reduce muscle fatigue and prevent injuries. On also offers a range of other athletic footwear, including hiking shoes, tennis shoes, and everyday sneakers. In addition to footwear, On also sells a line of athletic apparel, including shorts, shirts, and jackets. On's products are sold in over 50 countries through a network of retailers and distributors, as well as through the company's own website. The company has experienced rapid growth in recent years, and its products have become popular with both professional athletes and everyday consumers. Keywords: running shoes, athletic apparel, footwear, CloudTec, performance, sportswear, Swiss brand, direct-to-consumer, retail, global.

Valuation $11B
Revenue $3.26B
EBITDA $646M
Power Law Decacorn$10B+ valuation tier Thoroughbred$100M+ revenue

Investors

1 investor on On's cap table

Sourced from Dealroom's funding history.

Series B+ 1 investor entered at this stage
Roger Federer

Global footprint

Where On has talent and traffic

Workforce by country
64 countries with
team presence
🇨🇭 Switzerland34.6%
🇺🇸 United States18.9%
🇩🇪 Germany10.5%
🇬🇧 United Kingdom8.2%
🇻🇳 Vietnam3.7%
Top 5 of 64 shown
Web traffic by country
14M monthly visits
across markets
🇺🇸 United States54.9%
🇧🇷 Brazil5.7%
🇬🇧 United Kingdom5.4%
🇯🇵 Japan4.5%
🇨🇦 Canada3.9%
Top 5 markets shown

Talent graph

The shape of On's talent

Dealroom maps On's team person by person — pinpointing the standout operators and scoring them across the six dimensions investors underwrite. The counts and shape below are a public preview; the named individuals and exact scores live in the platform.

10 standout operatorsDealroom-flagged across the org
20 AI specialistsincl. 4 core researchers
5,707 employees mappedperson by person
DimensionScore
AI Talentlive Score hidden — book a demo
Engineering Score hidden — book a demo
Product Score hidden — book a demo
Go-to-market Score hidden — book a demo
Leadership Score hidden — book a demo
Research Score hidden — book a demo
Book a demo to unlock On's exact scores

Source: Dealroom Talent Intelligence. Public profiles show counts and the team's shape only — request a demo for the named individuals, per-person seniority and tenure, and team benchmarks vs peers.

Patent intelligence

$12M patent portfolio · 38 active families

Estimated portfolio value
$12M
0.11% of market cap · 19.8× larger than top peer Zalando ($620k)
38 active patent families
Where On innovates Ball tennisClassical mechanicsComposite materialIndustrial engineeringManufacturing engineering

Where On concentrates vs peers

Each axis is a top-10 topic across On and its closest peers. #1 = 100, #10 = 10, absent = 0.

Compare against

Source: Dealroom Patent Intelligence · Patsnap. Request a demo for the full per-sub-category breakdown, individual records, and quality-score history.

Market sentiment

What the market is saying about On

An AI-synthesized read of the highest-engagement posts about On on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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