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Running shoes with the first cushioning system that is only active when you need it

Zurich, SwitzerlandFounded 2010eCommerce & Marketplaces
Valuation $11B Market cap · 2026
Revenue $3.26B Latest reported FY
EBITDA $646M Latest reported FY

About On

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.

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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.

Source: Dealroom company data

At a glance

Founded
2010
Headquarters
Zurich, Switzerland
Listing
IPO 2021
Sector
eCommerce & Marketplaces
Power Law
Decacorn$10B+ valuation tierThoroughbred$100M+ revenue

Latest news

Press, funding announcements and product moves mentioning On.

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Investors

1 investor on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later1 investor entered at this stage

  • Roger Federer
Employees mapped 5,707 incl. 20 AI specialists
Founders Hidden — book a demo/100 quality score
Key operators 10 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
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

Patents

Estimated portfolio value
$12M

38 active patent families included in this estimate.

A patent family groups patent filings for the same invention. Source: Dealroom · PatSnap.

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Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about On on X, ranked by likes and reposts, corporate channels excluded.

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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