LimeBike, a San Francisco, California—based campus mobility startup, raised $12M in Series A funding.
The round was led by Andreessen Horowitz, with participation from IDG, DCM, and others. In conjunction with the funding, Andreessen Horowitz’s General Partner Jeff Jordan is joining LimeBike’s Board of Directors.
The company will use the funds to expand operations.
Co-founded by Brad Bao (Executive Chairman) and Toby Sun (CEO), LimeBike is building a service to provide riders with affordable bikes, which will be GPS-enabled, to find and pick-up them nearby.
LimeBike will have a dockless network to offer maximum flexibility and will work together with cities and campuses across the country to create programs that cater to their riders’ needs, with no costs nor maintenance fees to cities or campuses.