Zagster is a bike-share company that operates shared programs and a municipal white-label solution and is the operator behind the Pace brand. The company launched in 2007 and runs more than 200 bike-shares across 35 U.S. states. Zagster recently unveiled a bike-parking system for both shared and personal bikes that it says it will install at no cost. Pace launched in December and currently operates in Tallahassee, Florida and Knoxville, Tennessee. With a $15 million funding round, Zagster plans to launch Pace in additional cities this year. The article positions Zagster as a newer entrant in a competitive bike-share market alongside players such as JUMP, LimeBike and Spin. Zagster provides fully hosted bike-sharing systems for cities, universities, corporate campuses and residential properties. The company operates more than 140 programs across 30 states in the U.S. and Canada. It recently opened a satellite office in San Francisco. Zagster is led by co-founder and CEO Timothy Ericson. The company intends to use new funding to enhance its product roadmap, expand staff, and grow the organization. Zagster provides private and public-private bike sharing systems for property managers, hotels, businesses, universities and smaller cities across North America. Founded in Philadelphia in 2007 and headquartered in Cambridge, Mass., the company is led by CEO Timothy Ericson. Zagster operates programs in 28 states and serves employers (including General Motors, Samsung, Workday and Quicken Loans), real estate developers (including Kayne Anderson, Related Management and Irvine Company), universities (including The Ohio State University, Duke, Yale and Princeton) and hotel brands such as Hyatt and The Four Seasons. It also partners with cities including Cleveland and Canton (Ohio), Albuquerque (New Mexico), Carmel (Indiana) and Montgomery County (Pennsylvania). The company raised $3.5M in a Series A and intends to use the funds to expand the national presence of its bike sharing programs. Zagster provides bike-sharing programs for real estate companies, businesses, hotel chains and universities, targeting users who need bikes for longer periods or round trips rather than short public trips. Members receive a code on their mobile phone to unlock and lock bikes and return them to their original location by sending a text message to relock. The company is building a national network of suppliers and service professionals to support deployment and maintain service quality. Zagster plans to accelerate a national rollout by hiring sales and operational support staff and advancing its bike-sharing platform technology. Founded in Philadelphia in 2007 and based in Cambridge, Mass., the company develops partner programs for tenants, guests and employees.

Total raised

$30M

Funding rounds

4

Latest round

Equity

Latest activity

Feb 2018