AllTrails to Accelerate App Development and International Expansion
Company Looks to the Future with $150 Million Influx of Cash
AllTrails, Inc. has announced that it recently completed a successful round of funding, raising $150 million through the growth fund of global private equity firm Permira. The influx of cash will allow the company to accelerate app development while simultaneously expanding its international presence.
Designed to help people connect to the outdoors, the AllTrails app features more than 300,000 hiking, mountain biking, and running trails worldwide. An active community consisting of more than 30 million users shares reviews, photos, and information about those routes. One million of those users are paying subscribers, according to the company.
AllTrails saw usage of the app increase dramatically throughout 2020 as users searched for safe outdoor activities during the COVID pandemic. The company says that growth has continued into 2021, reaching more than 40 million downloads. The company’s online database of crowdsourced hiking routes grew, too, and now includes trails from 190 countries and 30 territories across all seven continents.
“AllTrails was built on the underlying principle that people and communities are happier and healthier when they spend time outside,” AllTrails CEO Ron Schneidermann said in a press release announcing the successful funding. He went on to add, “We use technology to democratize access and empower people to experience the physical, mental, and emotional health benefits that are only found in nature.”
According to TechCrunch, roughly two-thirds of AllTrails’ active users are located in North America, although its highest growth rates are in Europe, Asia, and Latin America. With the additional funding, the company now plans to expand operations in those parts of the world while also preparing to launch an updated version of the app in 2022.