Deals

Zagster Raises $10M Series B Round of Funding
Date: 
Thursday, January 5, 2017
Company: 
Location: 
Cambridge
Categories: 
B2B
Consumer
Mobile
Deal Type: 
Funding

Zagster, Inc., the leading provider of private and public-private bike sharing systems, today announced it has raised $10 million in a Series B round of funding led by Edison Partners, a leading growth equity capital firm. In addition, Zagster expanded its board of directors by appointing: Tom Vander Schaaff, a partner at Edison Partners; Jonathan Seelig, co-founder of Akamai Technologies (NASDAQ: AKAM), former Chairman of the Board of Zipcar and former managing director of Globespan Capital Partners; and Chris Randles, former  CEO of SpaceClaim Corp as well as MathSoft and a current venture partner at Borealis Ventures.

“With 300 percent growth in riders and programs over the past year, we’ve proven that our ‘Bike Share as a Service’ model is scalable, financially sustainable and ideally suited to meet the needs of customers across multiple markets in North America,” said Timothy Ericson, co-founder and CEO of Zagster. “This growth capital along with the expansion of our board sets the table for Zagster to enhance our product roadmap, expand our staff, and grow the organization to reach our goal of becoming the national standard in bikeshare... READ MORE

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