Veo

Veo

Offers shared electric scooters and bikes

About Veo

Simplify's Rating
Why Veo is rated
C
Rated D+ on Competitive Edge
Rated B on Growth Potential
Rated C on Rating Differentiation

Industries

Automotive & Transportation

Consumer Software

Company Size

201-500

Company Stage

Series A

Total Funding

$15.6M

Headquarters

Chicago, Illinois

Founded

2017

Overview

VeoRide offers shared electric scooters and bikes as an alternative to traditional urban transportation, aiming to reduce reliance on cars. Users can rent these vehicles through a mobile app, which allows them to locate, unlock, and pay for rides conveniently. The company operates in 50 cities across the U.S. and generates revenue through a pay-as-you-go model, charging a base fee plus a per-minute rate. VeoRide distinguishes itself from competitors by focusing on safety and user experience, with features like built-in blinkers and a commitment to continuous improvement based on user feedback. The goal of VeoRide is to provide accessible, eco-friendly transportation options while engaging with the community and promoting a culture of safety and innovation.

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Simplify's Take

What believers are saying

  • Veo's partnerships with universities increase brand visibility among students.
  • The launch of retail seated scooters opens a new revenue stream for Veo.
  • Competitors' financial struggles may allow Veo to capture additional market share.

What critics are saying

  • Increased competition from Lime's LimeGlider could attract more riders in key markets.
  • Slow bike infrastructure development may hinder Veo's expansion in some cities.
  • AI tools for parking compliance could increase operational costs if not managed well.

What makes Veo unique

  • Veo designs its fleet in-house, focusing on safety and user experience.
  • The company integrates AI for parking compliance, enhancing operational efficiency.
  • Veo's #StayInYourLane campaign promotes bike lane riding, improving user safety.

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Funding

Total Funding

$15.6M

Meets

Industry Average

Funded Over

1 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.

Series A Funding Comparison

Meet Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$16M
Veo
$100M
GitHub

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Unlimited Paid Time Off

401(k) Company Match

401(k) Retirement Plan

Stock Options

Growth & Insights and Company News

Headcount

6 month growth

3%

1 year growth

0%

2 year growth

0%
The Shorthorn
Jan 14th, 2025
UTA transportation services get Mavericks moving throughout campus and Arlington

UTA partnered with Veo to bring electric bikes and scooters to campus for students' convenience.

Central Current
Nov 27th, 2024
City auditor: Syracuse's work on bike infrastructure behind; just 11% of work promised 12 years ago done

"Central Current, Inc has seen the growth of bike-sharing, with the City partnering with VeoRide to provide

Government Technology
Nov 8th, 2024
E-Scooter Operator Turns to AI to Ensure Parking Compliance

Veo has partnered with Captur, an artificial intelligence (AI) parking compliance tool, it announced recently.

The Shorthorn
Oct 17th, 2024
UTA introduces Veo scooters, bikes to enhance transportation options throughout campus

UTA introduces Veo scooters, bikes to enhance transportation options throughout campus.

GeekWire
Aug 7th, 2024
Geekwire Test Ride: Why Lime’S New ‘Limeglider’ May Attract Even More Riders In Seattle

Lime’s new LimeGlider will hit Seattle streets starting Oct. 12. (GeekWire Photo / Kurt Schlosser)I’ve had some scary wobbles riding scooters on some of Seattle’s less-than-smooth roadways. Thankfully I’ve never hit the pavement. But during a test ride Wednesday, I may have fallen for Lime’s latest electric micromobility device.The new “LimeGlider” is coming to Seattle on Monday in the first pilot anywhere on the planet for the half e-scooter, half e-bike. Lime will roll out 280 of the green and black sit-down devices in the University District to test how well they are received in a city where the company has been operating since 2017.With 10,000 bikes and scooters already on Seattle streets as part of the Scooter and Bike Share program run by the Seattle Department of Transportation, Lime calls Seattle a global leader in this form of transportation

GeekWire
Dec 21st, 2023
Scooter Share In Seattle Navigates Potential Bumps As Bankruptcy And Shutdown Hit Two Providers

LINK scooters maker Superpedestrian will reportedly cease operations in Seattle and elsewhere in the U.S. (Superpedestrian Photo)Seattle’s scooter and bike share program is navigating a bit of a bumpy road as one company with devices on city streets has filed for bankruptcy and another is reportedly shutting down operations.Bird filed for bankruptcy on Wednesday, saying in a news release that the “financial restructuring process” is aimed at “strengthening its balance sheet and better positioning the company for long-term, sustainable growth.” Bird first received a permit to operate electric scooters in the city in 2022. This summer the company added bikes to the mix, and as of this month had a fleet of more than 1,800 units in the city, according to data from the Seattle Department of Transportation.Miami-based Bird said it will operate as usual during the bankruptcy process, “maintaining the same service for its riders and upholding its commitments to partner cities, fleet managers, and employees.” A Bird spokesperson confirmed in an email to GeekWire that that commitment applies to Seattle, where the company plans to continue a “strong relationship with the City administration to ensure the correct number of scooters are deployed.” Bird said it expects to continue to operate with its same local team of employees.A Bird electric bicycle in downtown Seattle. (GeekWire File Photo / Taylor Soper)Meanwhile, Superpedestrian, makers of LINK e-scooters, is reportedly shutting down U.S. operations at the end of December, according to a TechCrunch story last week and posts by employees on LinkedIn. The Cambridge, Mass.,-based company raised $125 million last year, but TechCrunch reported that the reason for the shutdown was financial

Veoride
Nov 13th, 2023
Ride like a pro and #StayInYourLane

At the end of October, Veoride, Inc launched its #StayInYourLane campaign to encourage bike lane riding and discourage a common issue in many cities: sidewalk riding.

Alabama Business Reporter
Nov 3rd, 2023
Shared Mobility Market in Transportation Industry Expected Size to Reach $1,266.80 Billion by 2031

For instance, in March 2022, Veo has successfully launched the Class 2 e-bike with throttle-assist, in Birmingham, Ala; Seattle Wash; Santa Monica, Calif; Syracuse, New York; and on the University of Alabama campus.

Google News
Aug 14th, 2023
City officials to soon decide on Veo's attempt to keep scooters in Fort Wayne

Since the City of Fort Wayne's announcement, Veo has launched a campaign to garner community support and keep the scooters in downtown Fort Wayne.

TechCrunch
Aug 10th, 2023
Shared micromobility firm Veo launches retail seated scooter

Shared micromobility firm Veo launches retail seated scooter.

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