Seattle’s Rad Power Bikes has closed $25 million in funding led by Vulcan Capital.
Rad Power Bikes is the largest direct-to-consumer electric bike brand in North America with more than 100,000 owners across 30 countries and a full lineup of ebikes for both personal and commercial use.
Founded in 2007, the company has 200 employees spread across offices in Seattle, Vancouver, and Utrecht, in the Netherlands.
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. Rad Power Bikes opened a retail showroom in East Vancouver in 2018.
“I’m especially excited to bring the joys of ebiking to even more of my neighbors,” said Daniel Henderson, Rad Power Bikes’ Canadian Business Director. “We’re building a great place where our growing Vancouver team can not only connect with our community in-person, but better serve our customers all across Canada.”
Rad Power Bikes aims to improve people’s lives and communities through their lineup of five ebikes, each developed with customer lifestyles in mind. The RadRover fat-tire ebike and RadCity commuter ebike are the most popular in Canada.
To improve the way businesses transport goods, Rad Power Bikes developed the RadBurro etrike for commercial use. Local businesses including Shift Delivery and Spud will make eco-friendly last-mile deliveries in Vancouver with the RadBurro.