AllTrails Raises $150 Million Investment Led by Permira
PR93107
SAN FRANCISCO, Nov. 17, 2021 /PRNewswire=KYODO JBN/--
-- Investment will further the company's market leadership in the outdoor
activity sector
AllTrails (https://c212.net/c/link/?t=0&l=en&o=3360396-1&h=3777306155&u=https%3A%2F%2Fwww.alltrails.com%2F&a=AllTrails), the most
trusted and used digital guide to the outdoors, today announced
that it has raised $150 million from the growth fund (https://c212.net/c/link/?t=0&l=en&o=3360396-1&h=4272947948&u=https%3A%2F%2Fwww.permira.com%2Fpermira-growth-opportunities%2F&a=growth+fund) of global private equity firm Permira (https://c212.net/c/link/?t=0&l=en&o=3360396-1&h=1284620458&u=https%3A%2F%2Fwww.permira.com%2F&a=Permira), which backs leading tech-enabled and digital businesses. As part of the
transaction, Spectrum Equity (https://c212.net/c/link/?t=0&l=en&o=3360396-1&h=1038992041&u=https%3A%2F%2Fwww.spectrumequity.com%2F&a=Spectrum+Equity) will remain the company's majority shareholder. The investment will
accelerate the company's product development and international expansion,
ultimately helping more people connect to the outdoors.
Photo - https://mma.prnewswire.com/media/1689218/AllTrails_App.jpg
Logo - https://mma.prnewswire.com/media/876716/AllTrails_Logo.jpg
AllTrails is home to the largest collection of digital trail guides, with over
300,000 hiking, running, and mountain biking trails worldwide, and a community
of over 30 million outdoor enthusiasts. The platform helps users find and
explore new trails, connect to routes best suited for their unique needs, and
get outdoors with the peace of mind provided by navigation tools, as well as
reviews and photos from other AllTrails users. With AllTrails, people of all
skill levels can discover, record, and share their outdoor experiences.
"AllTrails was built on the underlying principle that people and communities
are happier and healthier when they spend time outside," said Ron
Schneidermann, CEO of AllTrails. "We use technology to democratize access and
empower people to experience the physical, mental, and emotional health
benefits that are only found in nature. This investment validates our approach
to doing well by doing good, and we're excited to partner with Permira and
Spectrum Equity to bring our platform to more people around the world."
After a breakout year in 2020, AllTrails continues to demonstrate
record-breaking performance as more people look to embrace time in nature as
part of a healthy lifestyle. The AllTrails app has been downloaded more than 40
million times and boasts trail coverage in 190 countries, 30 territories, and
on all 7 continents, making it the most recognized digital brand and
category-leader in the outdoor activity sector.
Bruce Chizen, Senior Advisor to Permira and former CEO of Adobe, said:
"AllTrails has spent a decade building the necessary content to become the
definitive platform for people seeking to explore the outdoors. We are thrilled
to be backing Ron and partnering again with Spectrum Equity and Tim Sullivan."
With the transaction, Bruce will join Tim Sullivan, former CEO of Ancestry, and
Gretchen Howard, COO of Robinhood, on the AllTrails board of directors.
"AllTrails' vibrant community of users has been driving the company's
tremendous growth," said Ben Spero, Managing Director at Spectrum Equity and a
member of the AllTrails board of directors. "We're excited to partner with
Permira to build on this momentum and expand the world's leading digital
community for the outdoors."
About AllTrails
AllTrails is the most trusted and used outdoors platform in the world. We help
people explore the outdoors with hand-curated trail maps along with photos,
reviews, and user recordings crowdsourced from our community of millions of
registered hikers, mountain bikers, and trail runners in over 200 countries and
territories. AllTrails is frequently ranked as a top-5 Health and Fitness app
and has been downloaded by over 40 million people worldwide.
For more information on AllTrails or the AllTrails iOS or Android mobile app
please contact press@alltrails.com.
About Permira
Permira is a global investment firm that backs successful businesses with
growth ambitions. Founded in 1985, the firm advises funds with total committed
capital of approximately US$50bn (EURO44bn) and makes long-term majority and
minority investments. The Permira funds have made over 250 private equity
investments in four key sectors: Technology, Consumer, Services and Healthcare.
The Permira funds have an extensive track record in tech investing, having
invested US $15.9 billion in 58 companies across enterprise cloud adoption,
SaaS, fintech and online marketplaces. Permira employs over 350 people in 15
offices across Europe, North America, and Asia.
Permira's growth strategy is to back disruptive and market leading companies as
they scale to the next level. The Permira and Permira growth funds have
previously backed and helped scale some of the largest and fastest-growing
internet and technology businesses globally, including Zwift, CommentSold,
Klarna, Boats Group, Mirakl, Minted, Catawiki and The Knot Worldwide. For more
information, visit www.permira.com.
About Spectrum Equity
Spectrum Equity is a leading growth equity firm providing capital and strategic
support to innovative companies in the information economy. For over 25 years,
the firm has partnered with exceptional entrepreneurs and management teams to
build long-term value in market-leading internet-enabled software and
information services companies. Representative investments include Ancestry,
Definitive Healthcare, GoodRx, Grubhub, Everly Health, Lucid Software,
Lynda.com, SurveyMonkey, The Knot Worldwide, Verafin, and more. For more
information, including a complete list of portfolio investments, please visit
spectrumequity.com.
CONTACTS:
For AllTrails
Meaghan Praznik
meaghan@alltrails.com
+1-925-949-6091
For Permira
Nina Suter
Nina.Suter@permira.com
+44-207-9594037;
James Williams
james.williams@permira.com
+44-774-7006407
OR
Sard Verbinnen & Co
Permira-SVC@sardverb.com
For Spectrum Equity
Lucy Byrd
lbyrd@spectrumequity.com
SOURCE: AllTrails
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