North Bridge, Canaan Pitch In $80M for Active Network

Wade Roush8/28/08

Private Equity Hub reported yesterday that San Diego-based Active Network has raised $80 million in a sixth round of funding led by existing investors North Bridge Venture Partners of Waltham, MA, Canaan Partners of Westport, CT, and ESPN. Existing investor Charles River Ventures of Waltham did not return for this round, which brings the firm’s total venture funding to $275 million, PE Hub reported. Active Network runs a number of Web communites related to sports and active lifestyles, including Active.com and CoolRunning.com, and provides software tools that community organizations can use to manage administrivia such as online registrations, reservations, payments, donations and fundraising, and memberships.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.