Funding

Zagster raises $3.5M in Series A

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What does Zagster do?

Zagster, is a transportation provider which offers bike rental services in U.S.A. It is a bike sharing service for everybody. The company designs, builds and operates private bike sharing programs for corporate campuses, universities, hotels and residential communities across U.S. The company provides customers a total bike sharing solution which includes system designing, installation, sharing technology, maintenance, support and marketing services.

 

How much Zagster was funded?

Zagster has raised  $3.5M in  Series A funding on July 2, 2015 from Clean Energy Venture Group, LaunchCapital, Fontinalis Partners and LaunchPad Venture Group.

Previous funding

  • Undisclosed amount in Angel round on March 14, 2011 from New Dominion Angels
  • $245k in Seed round on June 29, 2011 from New Dominion Angels
  • Undisclosed amount in Angel round on September 12, 2011 from New Dominion Angels and Stephen Killeen
  • $118k in Seed round on January 24, 2012 from Techstars
  • $1M in Venture round on October 18, 2012 from Bob Mason, Jean Hammond, Fontinalis Partners, John Landry, Joe Caruso, LaunchCapital, Joshua Summers, Right Side Capital Management, Will Herman and Steve Kaufmann
  • $1.1M in Seed round on October 18, 2012 from Bob Mason, Jay Batson, Jason Henrichs, Joe Caruso, LaunchCapital, John Landry, Walt Doyle, Right Side Capital Management and Will Herman
  • $1.2M in Seed round on May 28, 2014 from LaunchCapital

What is next for Zagster?

Zagster has increased its number of bicycles in its program by 300% in the past year alone and in 2015 it plans to increase it by another 300%. It has doubled the number of employees and recently doubled its office space too.

More about Zagster

Zagster was founded on November 1, 2007 by Jason Meinzer and Timothy Ericson. It has its headquarters in Cambridge, MA.The company’s aim is to provide fast, fun and convenient access to bike transportation for any community. The company is currently deployed at locations in 23 states, with partners including Yale, General Motors, Quicker Loans and Four Seasons Hotels and Resorts.

 

 

 

 

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