Electric scooter startup Bird raises $300 mln, Sequoia leads round


Venice, California-based electric scooter provider Bird, which has been rumored for weeks to be raising a large round at a billion-dollar valuation, announced it has closed its Series C funding at $300 million. Sequoia Capital led the round, which included new investors Accel, B Capital, CRV, Sound Ventures, Greycroft Partners and e.ventures, as well as previous investors Craft Ventures, Index Ventures, Valor, Goldcrest, Tusk Ventures and Upfront Ventures.

As part of the funding, Sequoia Partner Roelof Botha has joined the board. Valuation was not disclosed, but Quartz reported in mid-June that the $300 million Bird was raising was at a $2 billion valuation. The company was founded by Travis VanderZanden, a former executive with Uber and Lyft. Bird raised $100 million in Series B funding in March.

PRESS RELEASE

Bird Secures $300 Million to Reduce Car Trips, Traffic and Carbon Emissions

Sequoia Backs Electric Mobility Leader

Venice, Calif. (June 28, 2018) – Bird, the pioneer in last-mile electric mobility, today announced its Series C funding round has closed. The $300 million round was led by Sequoia with participation from new investors Accel, B Capital, CRV, Sound Ventures, Greycroft and e.ventures. It also includes previous investors Craft Ventures, Index Ventures, Valor, Goldcrest, Tusk Ventures, and Upfront Ventures. The new capital will help Bird provide affordable and reliable transportation to people worldwide.

As part of its partnership, Sequoia Partner Roelof Botha will join Bird’s board of directors. Botha is currently a Director of  Eventbrite, Evernote, Square, and Unity Technologies, among other companies.

“This is the team we are betting on to write the next chapter in transportation innovation. They have the leadership, experience, and speed of execution to fundamentally change how we move around cities,” said Roelof Botha, Partner at Sequoia and Bird board member. “Before Bird, no one had an affordable solution to the last-mile problem that reduced traffic and greenhouse gas emissions. The enthusiasm with which riders across the country have embraced Bird demonstrates that millions of people are hungry for an easier way to travel short distances.”

“We are inspired by how people of all demographics from all over the United States have embraced this new mode of transportation,” said Travis VanderZanden, founder and CEO of Bird. “With this funding, we can grow to meet this consumer demand – providing an alternative to the short car rides that are clogging our city streets and communities.”

Riders interested in finding a Bird near them can download the app and sign up at www.bird.co.

About Bird

Bird is a last-mile electric vehicle sharing company dedicated to bringing affordable, environmentally friendly transportation solutions to communities across the world. It is the first company in the world to provide a fleet of shared electric scooters that can be accessed via smartphone. Birds give people looking to take a short journey across town or down that “last-mile” from the subway or bus to their destination a way to do so that does not pollute the air or add to traffic. Bird works closely with the cities in which it operates so that Bird is a reliable and affordable transportation option for people who live and work there. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird is headquartered in Venice, Calif., and is rapidly expanding across the United States. Follow Bird on Instagram (www.instagram.com/bird), on Twitter at @BirdRide, and find more information at www.bird.co.

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