AllTrails, a San Francisco, CA-based provider of a digital guide to the outdoors, received an investment from Spectrum Equity.
The amount of the deal was not disclosed. As part of the transaction, Spectrum acquired a majority stake in the company, in partnership with the CEO Jade Van Doren, and COO Ron Schneidermann. In conjunction with the transaction, Ben Spero and Matt Neidlinger from Spectrum Equity will join the board of directors.
The company intends to use the funds to accelerate product development, add more trail content around the world and grow its user base.
AllTrails has created a large collection of trail information globally with over 55,000 hand-curated trails in 102 different countries. It currently allows over 9 million registered users to discover, record and share their outdoor experiences, including hiking, mountain biking and trail running.
The platform reaches 44 million people each year through alltrails.com, the App Store and Google Play.