(ANSA) – MILAN, NOVEMBER 17 – AllTrails, the most popular app for tracing routes and trekking, also has the Permira fund among its shareholders, which has decided to invest 150 million dollars through its Growth Fund. American private equity Spectrum Equity will remain the majority shareholder of the company, states a note, and the new capital will serve to “accelerate the company’s product development and international expansion”.
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 app has been downloaded more than 40 million times and boasts route coverage in 190 countries, 30 territories and across all 7 continents. “It took AllTrails a decade to create the content needed to become the ultimate platform for people to explore the outdoors. We are thrilled to support Ron and to partner again with Spectrum Equity and Tim Sullivan,” comments Bruce Chizen, Senior Advisor of Permira and former CEO of Adobe who will join the board of directors. (HANDLE).
Source From: Ansa