Featured, LimeNews

Fifth Wall Partners with LimeBike to Close Series B Round

Feb 15, 2018 11:37:56 AM / by John Wachunas

 

Becoming the largest dock-free bike sharing company in the US was thrilling.


Growing into the nation’s most diverse smart mobility fleet, with electric-assist bikes and electric scooters, was even moreso.


Now, on the heels of our full-fleet launch in San Diego 
and the largest e-bike deployment in US history in Seattle, the LimeBike team is proud to announce another milestone: We’ve successfully raised an additional $70-million in funding as part of our Series B extension round.


Led by California-based Fifth Wall Ventures
, the new funds will allow us to continue expanding our operations throughout the US and Europe, developing new technologies and even more refined mobile applications to help bring sustainable, affordable transportation to communities across the globe.


Part of that vision is focused on helping real estate owners bring smart mobility to their properties. As it turns out, this makes our partnership with Fifth Wall Ventures a match made in heaven.


“Real estate owners have looked to Fifth Wall to find the optimal partner in the bikesharing ecosystem,” said Brad Greiwe, Co-Founder and Managing Partner at Fifth Wall. “Bringing shared bikes to the last 10 feet of the last mile at these assets will be a win for everyone involved: for LimeBike, for real estate owners, for consumers, for cities and ultimately for the environment as well.”


And in the end, that’s what this entire project is all about. Smart mobility benefits all of us, from riders to environmentalists to small business owners. We’re proud to have earned the trust of Fifth Wall Ventures, along with all of our incredible partners listed below.


Most of all, we’re honored to be able to continue to serve you, the LimeBike community.


With your support and the financial backing of our investors, LimeBike promises to always be your ride anytime.


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Coatue Management led the initial Series B round with additional investments from DCM Ventures, GGV Capital, Franklin Templeton Investments, Section 32 (led by Bill Maris, founder and ex-CEO of Google Ventures), AME Cloud Ventures (led by Jerry Yang Co-Founder of Yahoo!), Stanford-StartX Fund and The Durant Company (founded by professional basketball player Kevin Durant). Previous investors, including Andreessen Horowitz and NGP Capital, and Decent Capital also participated in this round. U.S.-based Fifth Wall closed the round, along with Rainbow Technology Co., Ltd.