What if, instead of checking your phone for the nearest Uber or Lyft, you could find the closest rental bike? In 40 markets across the U.S. and abroad, that’s a capability many commuters are taking advantage of, thanks to JUMP Bikes.
Previously known as Social Bicycles, JUMP was one of the first dockless rental bike companies to let cyclists find more convenient transportation — and it’s hitting the streets hard in 2018.
Just two weeks into the new year, the company announced a $10 million Series A funding, an expansion of its e-bike initiative and a total rebrand. VP of Marketing Rikin Diwan noted that recent changes in the bike share industry inspired the startup to shift gears.
“Two things happened to the bike share industry in 2017: First, more cities began changing their regulations to allow for more competition in the market,” he said. “Second, our newly designed e-bikes are so unique that we wanted to call it out with a new brand that people could get excited about.”
The JUMP e-bikes feature technology that gives the rider a boost whenever they pedal, with top speeds reaching 20 mph — about 5-10 mph faster than manual pedaling.
They provide just enough assistance to make sure you’re not sweating by the time you get to work.”
“Our e-bikes are different from scooters. The only time you'll feel the power of the electric motor is when you’re already pedaling,” said Diwan. “Basically, they provide just enough assistance to make sure you’re not sweating by the time you get to work.”
Unlike docked bike shares, there’s no need to drop off the bike at a different station, which could be blocks away from a rider’s end destination. Instead, users download the Social Bicycles or JUMP Bikes app depending on their city, find the closest bike nearby and use their account number and pin to unlock it. From there, they can take it for a ride and drop it off wherever there’s a place to secure it.
Although the service isn’t available in NYC just yet — there are permitting issues to sort through before that can happen — the team is based in Brooklyn and full of cycling and tech enthusiasts.
And, they’re currently hiring.
“New York City has a passionate bike community and so we're able to find the overlap of the most talented individuals who are also great fits for the roles we have,” said Diwan.
In addition to hiring, the funding will be used to enter new markets in California and Providence, Rhode Island.
