Rad Power Bikes
Facts
- HQ
- Seattle, Washington, USA
- Sectors
- Manufacturing, Retail, E-commerce, Electric bicycles, Consumer goods
- Stage
- former-startup
Rad Power Bikes Launches $2,499 RadTrike Three-Wheeled E-Bike Shipping January 2023 Amid Leadership Changes
Rad Power Bikes announced the RadTrike, a three-wheeled electric bike available for pre-order at $2,499 and shipping starting January 2023, aiming to provide accessible cycling options. The company recently underwent leadership changes and faced operational challenges including layoffs, lawsuits, and a product recall.
Rad Power Bikes CEO Mike Radenbaugh Steps Down, Phil Molyneux Named Successor Amid Company Challenges
Rad Power Bikes CEO Mike Radenbaugh is stepping down and will be replaced by Phil Molyneux, former Sony Electronics president, while Radenbaugh stays on as chairman. The company, valued at $1.65 billion in 2021 and having raised $304 million last year, has faced layoffs, lawsuits, and a large product recall recently.
Rad Power Bikes Launches First E-Bike Subscription in Berlin via Partnership with Cycle
Rad Power Bikes, a leading North American e-bike company, has launched its first subscription rental plan in Berlin through a partnership with German company Cycle, offering RadRunner and RadWagon models for about €79.90 monthly. This pilot project in Europe aims to gather insights for global expansion as Rad continues growing following significant recent investments and increased demand.
Vulcan Capital renamed Cercano Management and spun off as independent firm managing Allen-era assets
Vulcan Capital, the investment arm created to manage late Microsoft co-founder Paul Allen’s holdings, has been spun off and renamed Cercano Management, a privately held firm working with multiple investors and family foundations. Cercano, based in Bellevue, will remain connected to Allen’s estate, continues Vulcan’s low-profile approach, and was recently disclosed as an investor in a $5.9 million round for Seattle startup Pendulum.
U.S. VC Hits $330B in 2021; Washington State Pulls $8.5B Across 549 Deals, 9 New Seattle Unicorns
Venture capital hit record highs in the U.S. in 2021 with $330 billion across 17,054 deals, and Washington state saw $8.5 billion invested in 549 deals (a 77% increase over 2020), driven in part by newly minted unicorns in the Seattle area.
GeekWire updates Seattle list as Highspot raises $248M at $3.5B; SeekOut and Icertis added to 16 local unicorns
GeekWire updated its list of Seattle-area 'unicorn' startups (privately held companies valued at $1B+) after additions and a valuation change for Icertis, noting recent entrants like SeekOut and Highspot, which raised $248 million at a $3.5 billion valuation. The article highlights that the Seattle cohort includes 16 unicorns, none led by a female or Black CEO, and that many CEOs have Microsoft backgrounds amid a global surge in unicorns and venture funding.
GeekWire: Pacific Northwest records 55 exits and 282 VC deals this year, including Rad Power Bikes’ $154M round
GeekWire reports a surge in deal activity across the Pacific Northwest this year, tracking 55 acquisitions, SPACs, IPOs and private equity buyouts and 282 venture financings (nearly one per day). Notable transactions include Nintendo’s Jan. 5 acquisition of Next Level Games, BitTitan’s sale to Idera, and Rad Power Bikes’ $154 million funding round.
Rad Power Bikes raises $154M after $150M earlier in 2021 to expand retail, service network and operations
Rad Power Bikes raised $154 million in a new financing round after a $150 million infusion in February to expand its e-bike business, grow retail/service locations, and scale operations amid rising demand. The Seattle-based company, with more than 350,000 riders and 625 employees, plans to triple physical locations and speed deliveries to one-week fulfillment in North America.
Zulily co-founders Darrell Cavens and Mark Vadon back Seattle ID-verification startup Vouched with $4.5M investment
Seattle startup Vouched raised $4.5 million in a round led by Zulily co-founder Darrell Cavens and investor Mark Vadon to expand its AI-based identity verification software used by over 150 companies for real-time fraud detection across industries.
Ty Collins announces Rad Power Bikes featured on NPR’s How I Built This with Guy Raz after years of effort
Ty Collins announces that after years of hoping, he and Mike Radenbaugh succeeded in getting Rad Power Bikes featured on NPR's How I Built This with Guy Raz.
Flyhomes raises $150 million to scale cash-offer homebuying and mortgage services nationwide
Seattle startup Flyhomes raised $150 million to expand its cash-offer homebuying model and integrated mortgage and selling services nationwide, positioning itself against iBuyers and Zillow. CEO Tushar Garg said the funding supports building an end-to-end home-buying experience that gives clients a competitive edge in a chaotic market.
Stackline raises $130M Series B from TA Associates after $50M raise last November; serves 2,000+ brands
Seattle-based e-commerce software company Stackline raised $130 million from TA Associates in a Series B, less than a year after a $50 million round; the firm serves over 2,000 brands, has been profitable since 2014, and grew headcount 75% this year.
Outreach raises $200M, valuation climbs to $4.4B as Seattle sales-software firm expands AI products
Sales software startup Outreach raised $200 million in venture capital, pushing its valuation to $4.4 billion as the 10-year-old Seattle company expands AI-driven sales products and serves over 4,600 customers. The company reported $100 million in annual recurring revenue in fall 2020 and has now raised a total of $489 million.
Madrona Venture Group’s Steve Singh Details Six Post-COVID Tech Trends and Reasons for Hope on GeekWire Podcast
Steve Singh, managing director of Madrona Venture Group and former CEO of Docker and Concur, joined GeekWire to discuss reasons for hope and six technology trends to watch as the Pacific Northwest emerges from the pandemic, in a special episode tied to the 2021 virtual GeekWire Awards.
Madrona's Steve Singh on 6 tech trends to watch post-COVID
The 2021 virtual GeekWire Awards were held this week, recognizing the top companies, innovators, entrepreneurs and technologies in the Pacific Northwest, as nominated and chosen by the GeekWire community — along with celebrity cameos. On this special episode of the GeekWire Podcast, we’re featuring highlights from a behind-the-scenes conversation with former Docker and Concur CEO Steve Singh, managing director of Madrona Venture Group, which was hosted for finalists in advance of the awards by GeekWire co-founder John Cook. See omnystudio.com/listener for privacy information.
GeekWire Opens Voting for 13th Annual Awards; Deal of the Year Finalists Include $6.5B Auth0 Acquisition and Multi‑Hundred‑Million Funding Rounds
GeekWire has opened community voting for its 13th annual GeekWire Awards, highlighting Deal of the Year finalists across Fundings and IPOs/Acquisitions from Pacific Northwest tech companies. Voting runs through April 30, winners announced May 20 at the virtual awards presented by Wave Business.
Seattle-area startups raise record $1.64B in Q1 as U.S. VC funding jumps to $69B, PitchBook/NVCA say
PitchBook and NVCA report U.S. VC activity surged in Q1 2021 to $69 billion across 3,987 deals, while Seattle-area startups raised a Q1 record $1.64 billion across 88 deals, up from $616 million a year earlier. Mega-deals, fundraises, exits and SPAC activity all hit notable highs, and industry leaders say ample dry powder and economic recovery are driving larger investments.
Rad Power Bikes co-founder Ty Collins steps down to advisory role; WRF CEO Ron Howell to retire end of April
Rad Power Bikes co-founder and former CMO Ty Collins has stepped down and moved into an advisory role while remaining involved; the company is profitable and raised $150 million earlier this year. Washington Research Foundation CEO Ron Howell will retire at the end of April after 29 years, with CFO Jeff Eby serving as acting CEO.
Icertis raises $80M Series F led by B Capital, valuation jumps to $2.8B; total funding $280M
Seattle-area contract-management software company Icertis raised an $80 million Series F, boosting its valuation to $2.8 billion and bringing total funding to $280 million as it reports revenue north of $100 million and 1,400 employees worldwide.
Rad Power Bikes raises $150M minority investment to scale global e-bike business
Rad Power Bikes raised a $150 million minority investment to expand globally after pandemic-driven demand, planning to double its 325-person workforce and grow its showrooms and service stations. The profitable Seattle-based company — claiming 200,000 riders in 30+ countries and roughly $100M revenue in 2019 — will use the funds to scale operations and international footprint.
GeekWire: Pacific NW startups raise big rounds — Vacasa $108M, Remitly $85M, Auth0 $120M, OfferUp $120M, Outreach $50M; Qumulo hits $1B
Pacific Northwest privately-held tech startups raised large funding rounds and increased valuations during the 2020 economic crisis, with several firms hitting or exceeding $1 billion valuations and total H1 2020 investment of $2.3 billion across 135 deals.
Rad Power Bikes reports 297% surge in demand, apologizes for delays as pandemic boosts bicycle sales
Seattle e-bike startup Rad Power Bikes reported a 297% surge in demand amid the pandemic, causing delays and reflecting a wider bicycle industry boom driven by changed transportation and exercise habits.
U.S. VC Investments Total $34.2B in Q1 2020 as COVID-19 Threatens Decade-Long Growth
U.S. venture capitalists invested $34.2 billion across 2,298 deals in Q1 2020, slightly down from the prior year, but analysts expect investment pace and valuations to slow as COVID-19 disrupts the startup ecosystem and deal pipelines.
GeekWire Elevator Pitch: Mike Radenbaugh of Rad Power Bikes
GeekWire’s Elevator Pitch challenges startup founders to pitch their concepts in the time it takes to get to the top of Seattle’s Space Needle. Watch Rad Power Bikes CEO Mike Radenbaugh pitch in this segment, and check out the full episode here: https://youtu.be/XKLQdIaWhIs
People
See all 5-
Mike Radenbaugh Founder, Co-founder
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Ty Collins Founder, Former Co-founder, Cofounder (in title only)
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Angelina “Angy” Smith Executive, Chief Financial Officer; Interim CEO (brief)
