Active Network Adds $80 Million


The Active Network, a San Diego-based online community and application technology provider for the active lifestyle/sports market, has raised $80 million in Series F funding. Return backers include ESPN, Canaan Partners, North Bridge Venture Partners and Performance Equity Partners. Read more

Active Network Adds $80 Million


The Active Network, a San Diego-based online community and application technology provider for the active lifestyle/sports market, has quietly raised $80 million in Series F funding. This brings the company’s total VC capitalization to over $275 million since 1999, which is amazing considering that most of its 11 acquisitions are for relatively short money.

Active did file for a small IPO back in 2004, but later pulled the offering due to “unfavorable market conditions.” Maybe it’s gearing back up, and using this deal as a mezzanine stand-in.

The new round was done entirely with existing investors, including ESPN, Canaan Partners, North Bridge Venture Partners and Performance Equity Partners. Notably absent are past backers like Austin Ventures and Charles River Ventures, although they remain shareholders in the company. Other firms in that position include IAC, Liberty Mutual, Enterprise Partners, Outlook Ventures, Kettle Partners, Rocket Ventures, Interactive Minds and Tao Ventures.
Active Network has now raised a VC round each of the past four years. That includes a $67 million Series E deal last summer and a $35 million Series D deal in 2006 at a pre-money valuation of approximately $200 million (led by $20 million from ESPN).