Private equity house Permira has backed hiking and outdoors trip specialist AllTrails with a major investment round to the tune of $150 million.
The round is double the value of the U.S.-based company's previous round in 2018 and brings its total funding so far to $227 million.
Previous backer and fellow private equity provider Spectrum Equity will retain its majority shareholder role in the business.
AllTrails was created in 2010 by Russell Cook and is overseen by CEO Ron Schneidermann.
The mobile app features trips and planning services for outdoors enthusiasts in 190 countries and, according to the company, has been downloaded more than 40 million users globally, including 30 million members of its community.
The new windfall will be used for product development and expanding the business internationally.
AllTrails works by helping users find and explore new activities and routes, as well as locate reviews and photos from members of the community. Users can then discover, record and share their outdoor experiences.
The company has described 2020 as its "breakout" year, as travelers and locals turned to domestic trips and outdoor activities due to pandemic-led closures of indoor experiences.
Schneidermann says: "We use technology to democratize access and empower people to experience the physical, mental, and emotional health benefits that are only found in nature."
Cook was founder and CEO until 2015, when he took on the role of president for a further three years. He is now co-founder and president of fitness app FitOn.