![]() As part of the transaction, Nagae will also join Rad Power Bikes' board of directors along with Vadon, who joined the board as a result of his growing involvement with the company, and Cavens who joined in 2019. This round of funding comes nearly a year after Rad Power Bikes secured a private investment from Darrell Cavens and Mark Vadon, Seattle-area entrepreneurs and co-founders of the e-commerce retailer Zulily. Founded in 2007, the company has 200 employees spread across offices in Seattle, Wash., Vancouver, British Columbia, and Utrecht, the Netherlands. ![]() Rad Power Bikes is the largest electric bike brand in North America, with more than 100,000 owners across 30 countries and a full lineup of ebikes packed with power, comfort, and utility for both personal and commercial use. "As demand for new and affordable solutions in the micromobility and electric vehicle sector advances, this investment will accelerate Rad Power Bikes' continued growth." "In just a few years, Mike and his team have used their consumer direct business model to shorten their supply chain and create a tight feedback loop with customers, allowing them to constantly improve their line of ebikes and expand into new markets around the world," said Ellenbogen. Ellenbogen recognizes Rad Power Bikes' growth potential after investing in the venture rounds of a number of notable companies in the direct to consumer and technology startup space. Henry Ellenbogen, founder and CIO at Durable Capital Partners LP, is also a lead investor in this round. "This additional capital will enable the company to broaden its market, accelerate growth and continue to deliver the exceptional experience today's customers expect." "Rad Power Bikes is the market leader in electric bikes, bootstrapping its way to a profitable business," said Nagae. Leading the investment is Stuart Nagae, Director at Vulcan Capital and early Rad Power Bikes customer. "We found two groups of world class consumer and retail investors who believe in our vision and will help us surprise and delight our customers in new and exciting ways." "I've been passionate about achieving a future where ebikes are king and transportation is energy efficient, enjoyable and accessible for all since I was 15 years old," said Mike Radenbaugh, Rad Power Bikes' founder and CEO. The funding will support new brick and mortar retail locations around the world, along with expansion of the company's mobile service and white glove delivery offerings. 5, 2020 /PRNewswire/ - Rad Power ® Bikes, a Seattle-based ebike brand, closed $25 million in funding led by Vulcan Capital and Durable Capital Partners LP. We have reviewed nearly every Rad Power Bike model, and you can find our review articles and videos below, along with a series of news articles about updates and new product launches from the company.SEATTLE, Feb. We often seen riders using a single Rad Power e-bike for a combination of pleasure and utility riding. ![]() However, all of Rad’s e-bikes are extremely versatile, meaning just about any model can be used for any type of riding. However the company’s largest markets are likely recreational riders and those looking for economical e-bikes for local transportation.Īll of Rad Power Bikes’ electric bicycles can reach speeds of up to 20 mph (32 km/h) in the US and generally have ranges of around 25-50 miles (40-80R km), depending on the type of riding and terrain.īelow is a list of the company’s currently available electric bicycles (note that prices sometimes change, but we’ll do our best to keep these figures accurate):Īmong Rad Power Bikes’ various models, the RadMission and RadCity models are more transportation/commuter oriented with typical street bike styles, the RadRovers and RadMini Step-Thru (folding) are more recreational oriented with their large fat-tires, the RadMini is a great folder for those needing a small format e-bike, and the RadRunner and RadWagon are great for utility and cargo uses.
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