ONCE CONSIDERED an obscure sport for kids, commuters and hardcore fitness fanatics, cycling has evolved in the past few years into both a powerful networking tool for executives and an activity that corporations are increasingly using to connect with their client base. One example, Adobe Systems, the San Jose, California-based maker of design and publishing software, organizes formal cycling events for clients and partners at many Adobe and partner conferences around the world. They’ve become a big draw.

“I...