Hiking enthusiasts have even more enthusiastic news to celebrate! AllTrails, the app that lays down the maps of hiking trails has successfully secured a big round of funding of $75 million, led by Spectrum Equity. With this round, Spectrum Equity now holds the majority of the stakes of AllTrails.
AllTrails, established in 2010 is a software app that provides something that’s uniquely called “outdoors platform.” The app even hosts reviews posted by its 9 million passionate hikers of trails. The platform includes hikers, trail runners, mountain bikers and more from all over the world. Apart from these honest and helpful reviews, AllTrails also provides detailed trail maps and other helpful content for outdoor enthusiasts.
So far, with 8 years of successful running, AllTrails has been downloaded 12 million times, the company says. Its major investors have been from 500 Startups and 2020 Ventures. But this round of investments is the first major round of investment.
Jade Van Doren, the present CEO of the company has a long history of backpacking, hiking, and camping in the Sierras. He is pleased with the funding and says, “I enjoy waking up in the morning and knowing what we are building is helping people live healthier and more active lifestyles.”