AllTrails gets $75M to keep hikers happy

The app for hiking enthusiasts just secured a big round of capital that will help it map more trails worldwide. AllTrailshas raised $75 million, led by Spectrum Equity, which has taken a majority stake in the company in the process. Founded in 2010, AllTrails raised a small amount of capital years ago from investors, including 2020 Ventures and 500 Startups. It was also part ofAngelPad’s inauguralaccelerator class. This is its first sizeable round of equity financing. Learn more about your ad choices. Visit podcastchoices.com/adchoices