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.

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