RideWithGPS, a company with a 16-year history specializing in GPS-based route-planning tools for cyclists, has secured $3 million in funding from an undisclosed strategic investor.
1. The startup provides a mobile app and web platform designed for mapping, analyzing, and monitoring cycling routes, along with a social component for ride-sharing and statistical insights.
2. Based in Portland, Oregon, RideWithGPS was co-founded in 2006 by CEO Zack Ham and Cullen King, who initiated the venture during their college years.
3. This funding round represents RideWithGPS’ inaugural external investment. From its inception, the company has maintained positive cash flow, as confirmed by CEO Zack Ham to GeekWire. Additional financial details remain undisclosed.
4. In the realm of leveraging GPS technology for tracking and sharing recreational activity data, RideWithGPS faces competition, with companies like Strava securing $110 million in funding in 2020.
