New York-based JUMP Bikes, operator of a dockless and electric bike sharing network in the United States, announced it has raised $10 million in a Series A funding round led by Menlo Ventures. Also participating in the financing are Sinewave Ventures and existing investors Esther Dyson, SOSv and OurCrowd. The company, formerly known as Social Bicycles, was launched in 2010. In 2017, JUMP Bikes launched its e-bike share network in Washington, D.C., and soft-launched in San Francisco. It will use the latest funding to expand into new cities.
Source: Company press release
Photo of a user on an electric bike courtesy of JUMP Bikes.