Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=48450817-039a-4ef7-b04a-a6b1161f91b6&Preview=1
Date 10/19/2012
Company Name Zagster
Mailing Address One Broadway 14th Floor Cambridge, MA 02142
Company Description 71% of Americans say they’d like to bicycle more yet list access to a bike as the number one barrier to doing so. Zagster provides bikes where people live, work and visit; giving them access using their mobile phone. We’ve found property managers (e.g. Related Management), universities (Yale), businesses (Cisco) and hotels (Hyatt) are willing to cover the costs of providing bike fleets as an amenity. We’ve consulted in the space since 2007, launched at 56 locations and are a TechStars Boston company.
Proceeds Purposes Zagster will use the funding to expand its bikes-as-a-service model across the country, hiring key senior-level positions in sales, operations and bike fleet management.