TECH COAST ANGELS INVESTORS FUND BIKESTATION®, A NEW TRANSPORTATION PARADIGM AND TECH COAST ANGELS’ FIRST TRIPLE BOTTOM LINE INVESTMENT
IRVINE, Calif., April 7, 2009 – The Orange County, Calif. network of Tech Coast Angels (TCA), the largest angel investor group network in the United States, today announced that TCA members have provided growth capital to Bikestation®, the nation’s only turnkey solution for bicycle and other alternative transportation infrastructure for municipalities, campuses and developers. According to Raulee Marcus, lead investor from TCA for the Bikestation funding, “It is the mission of Bikestation to allow people to move efficiently from place to place in new ways. Bikestation has developed a unique solution that allows people to ride and park their bikes or use small electric vehicles in a safe, secure, indoor, remotely monitored environment complete with comfortable lockers, changing facilities, showers, repair services, and all the accessories they need for their bicycles. It changes people’s minds about what is possible and practical. It is a true paradigm shift — and for TCA, a triple bottom line investment benefiting people, producing profit and saving the planet.”
Bikestation is a proven alternative transportation model having developed a dozen facilities across the country, including Long Beach, Palo Alto, and Santa Barbara, Calif., Seattle, and more. Four new facilities are opening this year: Washington, DC; Salt Lake City; Claremont, Calif.; and Tempe, Ariz. Bikestation also has a nonprofit arm for grantmaking and education. According to Raulee Marcus, “This company is so hot and their solution is so vital to the new green economy, they just couldn’t answer demand for Bikestations fast enough without investors. And their model is proven. They are profitable. In fact, they’ve raised their revenue forecast for 2009 since they’d already met 70 percent of their annual goal in the first quarter.”
Andréa White-Kjoss, chief executive officer of Bikestation, stated, “All over the world, people are trying to solve the problem of alternative transportation. But you can’t just say to people ‘ride your bike.’ They’re afraid for a lot of real reasons. Bike theft is a big concern, and people worry about their clothes and where to store their things. Bikestation makes riding a bike or an electric vehicle a real alternative — safe, affordable and fun. And Bikestation solves problems for cities, universities and developers who want to supply bike transit — in some cases are required to — but know that developing and operating such a facility is not their core expertise. Bikestation provides a proven, efficient turnkey solution. Landowners get to reduce expensive auto parking spaces. Cities and campuses honor their carbon commitments and Bikestation provides a needed service. It’s a win all around.”
About Tech Coast Angels
Tech Coast Angels, www.techcoastangels.com, is the largest angel investor group in the United States. Its members provide funding and guidance to more early-stage, high-growth companies in Southern California than any other investment group. Since its inception in 1997, TCA members have focused on building valuable companies, personally invested over $99M, and helped portfolio companies attract more than $960M in additional capital, mostly from venture capital firms. TCA members invest in companies in a wide range of industries, including the life sciences, biotech, IT, services, retail, Internet, financial, software, media, consumer products and tech startups. TCA members give companies more than just capital; they also provide counsel, mentoring and access to an extensive network of potential investors, customers, strategic partners and management talent. TCA has more than 300 members, including its venture capital affiliates, in five networks in Los Angeles, Orange County, San Diego, Westlake/Santa Barbara and the Inland Empire. More information on investment with Tech Coast Angels can be found at http://www.techcoastangels.com.
Bikestation creates the only turnkey ecosystem for bicyclists and bicycling. The company consults in design and build, and it manages these facilities across the country and around the world. Bikestation facilities offer secure bicycle parking and related services to make cyclists’ lives easier, including, repair services, equipment and accessory sales, and restrooms and changing rooms. Bikestation is a registered trademark of Mobis Transportation Alternatives, Inc. Bikestation is headquartered in Long Beach, Calif. More information on Bikestation can be found at www.bikestation.com or by calling at 562-733-0106, or by e-mailing email@example.com.