Zagster, Inc., a Cambridge, MA-based provider of private and public-private bike sharing systems, raised $10m in Series B funding.
The round was led by Edison Partners. In addition to the funding, Zagster expanded its board of directors by appointing:
– Tom Vander Schaaff, general partner at Edison Partners;
– Jonathan Seelig, co-founder of Akamai Technologies, 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.
The company intends to use the funds to enhance its product roadmap, expand the staff, and grow the organization.
Led by Timothy Ericson, co-founder and CEO, Zagster operates more than 140 fully hosted bike-sharing programs in cities, universities, corporate campuses and residential properties in 30 states across the U.S. and Canada. The company recently opened a satellite office in San Francisco.